SRS Real Estate Partners’ National Net Lease Group recently completed the sale of two freestanding single-tenant retail properties in Brandon, FL. Occupied by Panera Bread and Chipotle, these outparcels to Lake Brandon Plaza—a Publix-anchored shopping center at 11201-11255 Causeway Boulevard—were sold for $8.125 million. The Chipotle property totals 2,432 square feet while the Panera property totals 4,022 square feet; both were constructed in 2023 and feature 15-year absolute triple net leases.
Executive Vice President Patrick Nutt and Vice President William Wamble represented the seller—a Florida based private investor—while a New York based private investor was identified as buyer through an all cash 1031 exchange transaction that sought top tier retail tenants on long term leases with a blended cap rate of 4.34 percent achieved upon closing . “We are pleased to have been able to complete this transaction on behalf of our client at such favorable terms given today’s market environment,” said Nutt
