July 26, 2020
SRS Real Estate Partners’ National Net Lease Group has brokered the $10.2 million sale of a single-tenant, 41,921-square-foot retail property in Tuscaloosa. Located at 4201 Hargrove Road East, the property is occupied by Walmart Neighborhood Market. The property was built in 2015 and includes a gas station with 12 fuel pumps.
Dan Elliot and Sean Lutz of SRS’ Chicago office represented the seller, a private investor, in the transaction. The buyer was a Miami-based investor in a 1031 exchange.
“Walmart-occupied retail assets are highly sought after by a wide range of investors. We marketed this opportunity as a well-located trophy property with a corporate-guaranteed lease with 10 years remaining,” said Lutz. “This was an ideal situation for the buyer who was seeking no landlord responsibilities, an asset occupied by an essential tenant, and a long-term hold.”
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