SRS Real Estate Partners Completes $6.98 Million Sale of Tractor Supply Property in North Carolina
SRS Real Estate Partners has finalized the $6.98 million sale of a newly constructed Tractor Supply-occupied property in Castle Hayne, North Carolina, highlighting continued investor confidence in retail real estate backed by credit tenants.
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, situated on 11.5 acres at 3400 Castle Hayne Road, featured 14 years of base term remaining on the corporate-guaranteed lease at the time of sale. This transaction underscores the ongoing strength of retail real estate investments backed by investment-grade credit tenants.
SRS Capital Markets Executive Vice President & Managing Principal Calvin Short represented the seller, a Pinehurst, North Carolina-based developer. The buyer, a Conyers, Georgia-based private investor who was completing the second leg of a 1031 exchange, was represented by Pierce Mayson with Matthews REIS. Short noted that the asset provided the buyer with high-quality, new construction and a stable income stream backed by Tractor Supply, an investment-grade credit tenant.
The property's strategic location enhances its investment appeal. It is directly across from Moore's Crossing, a 27-acre proposed development with plans to include a grocery store, residential and retail space. The site is located within the Wilmington Metropolitan Statistical Area, which has more than 467,000 residents within a five-mile radius, and is just four miles from North Wilmington International Airport. This demographic density and accessibility contribute to the property's long-term value proposition.
This transaction contributes to SRS Capital Markets' significant transaction volume this year, which has exceeded $1.7 billion across more than 500 transactions nationwide. The firm currently has over 845 properties actively on the market with a market value surpassing $3.7 billion, demonstrating the scale of its commercial real estate operations. For more information about SRS Real Estate Partners, visit https://srsre.com.
The sale reflects broader trends in commercial real estate where investors continue to seek properties with strong credit tenants and long-term lease security. The use of a 1031 exchange by the buyer indicates the strategic tax advantages being utilized in commercial real estate transactions. The combination of new construction, prime location, and investment-grade tenant makes this type of property particularly attractive to institutional and private investors seeking stable returns in uncertain economic conditions.