Retail-STNL
STNL-Retail Big Box
Executed a 1031 for a client who sold his Single tenant Industrial in Santa Clarita and exchanged into this higher yield single tenant Retail in East Texas. The property resides in a solid trade area of east Texas with low unemployment and strong demographic trends. The Corporate guaranteed lease is with Academy Sports & Outdoors, which operates over 170 stores throughout Texas and the South.
The initial lease term has 8 years remaining and the sale was effectuated at a cap rate of just over 8% increasing the clients yield significantly.
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