SRS Real Estate Partners completed the $8.61 million sale of a Lowe’s Home Improvement property at 2888 Brice Road in Columbus, Ohio.
Situated on 12.8 acres, the 125,357-square-foot property has a corporate-guaranteed lease that was recently extended for 10 more years.
SRS Capital Markets Managing Principals Matthew Mousavi and Patrick Luther represented the seller. The buyer was a West Coast-based private investor. The closing cap rate was 6.4%.
The property is adjacent to Brice Park, a 158,000-square-foot shopping center with big box tenants. It is also located in the center of a primary retail corridor with other nearby brands including Kroger, Big Lots!, Walgreens, and Planet Fitness, among others.
