JRW Realty has closed on the transaction of a $10 million 52,227-square-foot property occupied by Hobby Lobby in West Des Moines, Iowa.
The property closed at contract price without a financing contingency and is wholly occupied by Hobby Lobby, a national company that experienced revenue of $5.3 billion in 2020 and ranks 79th on the Forbes list of America’s Largest Private Companies.
JRW Realty analyst Christopher Thompson facilitated the transaction of the property under the guidance of Joel Staffilino, president of multi-tenant retail. Matthews Real Estate Investment Services represented the seller in the transaction.
The single-tenant property meets the acquisition criteria of JRW Realty’s buyers, who have a strong appetite for acquiring grocery-anchored multi-tenant shopping centers and individual net-leased properties backed by essential businesses with creditworthy metrics.
