JLL Capital Markets has completed the nearly $50 million sale of a 12-property net lease retail portfolio comprising more than 94,000 square feet across three states and five major metropolitan markets.
JLL represented the seller, a South Florida-based family office, and procured the buyer, Orion Real Estate Group.
The portfolio consists of 11 single-tenant and one two-tenant properties, including bank branches, a fitness center, pharmacy, urgent care facility and quick service restaurant. The portfolio contains 6.5 years of weighted average remaining lease term and nearly 70% of the tenants hold investment grade credit ratings.
The properties are positioned in major metropolitan areas throughout Florida, Texas and Illinois.
JLL’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Senior Director Jeff Cicurel and Associates Eric Osika and Noel O’Donnell.
