SRS Real Estate Partners has completed the $6.98 million sale of a 21,930-square-foot property occupied by Tractor Supply. The newly developed property is situated on 11.5 acres at 3400 Castle Hayne Road in Castle Hayne, NC, and had 14 years of base term on the corporate-guaranteed lease, at time of sale.

SRS Capital Markets Executive Vice President & Managing Principal Calvin Short represented the seller, a Pinehurst, NC-based developer. The buyer, a Conyers, GA-based private investor who was completing the second leg of a 1031 exchange, was represented by Pierce Mayson with Matthews REIS.

“This asset provided the buyer with high-quality, new construction and a stable income stream backed by Tractor Supply, an investment-grade credit tenant,” said Short.

The property is directly across from Moore’s Crossing, a 27-acre proposed development with plans to include a grocery store, residential and retail space. It is also located within the Wilmington MSA, which has more than 467,000 residents in a five-mile radius, and is just four miles from North Wilmington International Airport

This year, SRS Capital Markets has completed more than $1.7 billion in deal volume comprised of more than 500 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

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