SRS Real Estate Partners has successfully sold a portfolio of six gas station assets for $39 million. The properties, located in Las Vegas, NV and the greater Phoenix, AZ market, include four Conoco-branded stations and two 76 Gas stations.
The buyer of these properties is LV Petroleum who will lease back all six locations with 20-year absolute triple-net leases in place. Each property was purchased by a separate private buyer. SRS Capital Markets’ team members Patrick Luther, Matthew Mousavi and Winston Guest represented LV Petroleum in this transaction.
According to Guest from SRS Capital Markets: “These assets are well-managed by an experienced operator and offer excellent location advantages as well as accelerated depreciation benefits with annual rent increases of 3%.”
In the current year alone, SRS Capital Markets has completed deals worth approximately $684 million through 77 transactions across 34 states. Currently having over 670 active listings on the market valued at more than $3.25 billion shows their strong presence in the industry.
This post highlights LV Petroleum’s successful sale of six Southwest gas stations without mentioning any specific company names or Connect CRE platform.
