SRS Real Estate Partners Completes $3.88 Million Circle K Ground Lease Sale in Florida

SRS Real Estate Partners has completed the $3.88 million ground lease sale of a Circle K property located at the northwest corner of SR-54 and Asturian Parkway in Odessa, Florida. The transaction involved a 1.7-acre site with a 5,200-square-foot property featuring a new 15-year corporate-guaranteed lease. SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based private developer, while the buyer was a private investment entity controlled by family members residing in California and Florida.

The purchase was structured to complete a 1031 tax-deferred exchange, a strategy that allows investors to defer capital gains taxes by reinvesting proceeds from the sale of one property into another similar property. This transaction underscores the continued attractiveness of ground-leased properties to investors seeking stable, long-term income streams without the responsibilities of property management. According to Nutt, "Ground-leased Circle K assets are seen as a gold standard for investors seeking cash-flowing assets with no landlord responsibilities and scheduled rental increases."

The Circle K is part of a larger retail development that will include Ford’s Garage, a three-tenant retail property, planned multi-family units, office space, and additional commercial offerings. This development highlights the trend of mixed-use projects that combine retail, residential, and office components to create vibrant, integrated communities. The property's location at a major intersection enhances its visibility and accessibility, factors that contribute to its investment appeal.

SRS Capital Markets has been highly active in the Circle K brand, having sold more than half of the new construction Circle K properties nationally since 2023. This transaction is part of the firm's broader activity, which has included over $1.5 billion in deal volume across more than 400 transactions nationwide this year. SRS currently has over 845 properties actively on the market with a total market value exceeding $3.7 billion. For more information, visit https://srsre.com.

The sale reflects broader trends in the commercial real estate market, where investors are increasingly targeting properties with corporate guarantees and long-term leases. These assets provide predictable returns and minimize operational risks, making them particularly attractive in uncertain economic climates. The use of a 1031 exchange also demonstrates how tax strategies continue to influence investment decisions, driving capital into sectors like retail that offer stable income and appreciation potential.