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12/01/22
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A 1031 exchange investor closed on a three-property retail acquisition totaling $17.725 mil. The assets included: a new construction Tire Works-occupied asset in Henderson, NV; a new construction Service King Collision Repair Centers-occupied asset in Sugar Land, TX; and a QuikTrip-occupied asset in Des Moines, IA that was corporate sale-leaseback.
Chuck Klein with SRS Real Estate Partners’ National Net Lease Group repped the buyer in the deal. Permanent financing was placed on all properties through Gary Goss of Slatt Mortgage. According to Klein, the buyer plans to hold the assets long-term for a cash-flowing, stabilized and passive investment.
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