By Daniel Webster, dWeb.News Publisher
Atlanta, GA, September 15, 2021 –(PR.com)– Sands Investment Group’s (SIG) Atlanta based automotive net-lease broker, Harry Archer, brokered the sale of a $13 million 8-unit Tires Plus portfolio across Atlanta and Athens, GA. Harry Archer and his team at Sands Investment Group represented the seller, a Southeast based private investor, as well as the buyer, a California-based REIT.
Considering the comparable lease terms in today’s market, this deal will rank among one of the most aggressive price points in the automotive net-lease industry. All the Tires Plus leases were triple net lease and had a remaining lease term of 3 years, backed by the automotive chain’s corporate parent Bridgestone, who has an S&P grade A credit rating. Archer’s team achieved a sale at a 6.50% cap rate for the portfolio.
“Harry Archer and the team were very persistent yet patient during the process. We feel that they helped get us a fair price from a large group of potential customers. We would recommend Harry Archer and SIG. We plan to utilize them in the future.” – Seller | Tires Plus Portfolio in Atlanta, GA
“This transaction illustrates the current peak demand for automotive net-lease properties in the market today from both private and institutional investors. Due to the limited supply and inundated demand, these stores are trading at historic levels both individually and on a portfolio level,” says Archer.
Archer leads a team at SIG that specializes in automotive net-leased corporate tenants in the tire and parts space. Several of these tenants include: Firestone, Advance Auto Parts, Mavis Tire, NAPA, Goodyear, O’Reilly and more. Archer has YTD closed on $32.3 million worth of property among 16 transactions.
Net Lease Advisor, Automotive
About Sands Investment Group
Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of net lease properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 2,800 plus transactions worth more than $5.5 billion in 48 states. Advisors with the company currently have over $800 million in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experience in net lease, retail, office and industrial transactions is unparalleled. Sands Investment Group has offices in Santa Monica, CA, Charleston, SC, Atlanta, GA, Austin, TX, and Philadelphia, PA.
Sands Investment Group
- Commercial Real Estate
For more dWeb.News Business News: https://dweb.news/news-sections/business-news/