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, FL. Situated on 1.7 acres, the 5,200-square-foot property has a new, 15-year, corporate-guaranteed lease in place.

SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based private developer. The buyer was a private investment entity controlled by family members residing in California and Florida. The purchase was done to complete a 1031 tax-deferred exchange.

The Circle K is part of a larger retail development that will feature Ford’s Garage, a three-tenant retail property, planned multi-family, office space, and more. This transaction underscores the strategic value of ground-leased properties in mixed-use developments.

"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," said Nutt. "Our team has been very active with this brand and has sold more than half of the new construction Circle K properties nationally since 2023."

This year, SRS Capital Markets has completed more than $1.5 billion in deal volume comprised of more than 400 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, please visit https://srsre.com.