SRS Real Estate Partners Completes $6.98 Million Sale of Tractor Supply Property in North Carolina

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

The transaction represents significant investor confidence in retail properties backed by investment-grade credit tenants. Calvin Short, Executive Vice President & Managing Principal at SRS Capital Markets, represented the seller, a Pinehurst, NC-based developer. The buyer, a Conyers, GA-based private investor, was completing the second leg of a 1031 exchange and 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's location offers strategic advantages, positioned directly across from Moore's Crossing, a 27-acre proposed development with plans to include a grocery store, residential and retail space.

The property is located within the Wilmington Metropolitan Statistical Area, which has more than 467,000 residents within a five-mile radius, and sits just four miles from North Wilmington International Airport. This transaction contributes to SRS Capital Markets' impressive year-to-date performance, having 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. For more information about the company's commercial real estate services, visit https://srsre.com.