SRS Real Estate Partners Completes $6.98 Million Sale of Tractor Supply Property in North Carolina

SRS Real Estate Partners has completed the $6.98 million sale of a 21,930-square-foot property occupied by Tractor Supply Company. The newly developed property is situated on 11.5 acres at 3400 Castle Hayne Road in Castle Hayne, North Carolina, and featured 14 years of base term remaining on the corporate-guaranteed lease at the time of sale. The transaction underscores the sustained demand for single-tenant, net-leased properties backed by investment-grade tenants in strategic locations.

SRS Capital Markets Executive Vice President and 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. This type of transaction is indicative of the market's appetite for properties that offer long-term lease security from nationally recognized retailers.

The property's location adds significant value to the investment. It is directly across from Moore’s Crossing, a 27-acre proposed development with plans to include a grocery store, residential, and retail space. This proximity to future commercial and residential growth enhances the property's long-term desirability and potential for appreciation. The asset is also located within the Wilmington Metropolitan Statistical Area (MSA), which has more than 467,000 residents within a five-mile radius, providing a substantial customer base for the tenant. Furthermore, its location just four miles from the Wilmington International Airport offers logistical advantages and underscores the area's economic vitality.

This sale contributes to SRS Capital Markets' notable transaction volume for the year. The firm has completed more than $1.7 billion in deal volume comprised of more than 500 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion, demonstrating its significant role in the commercial real estate sector. For more information on the company's activities, visit https://srsre.com. The completion of this sale during a period of economic uncertainty highlights the resilience of the net-lease sector, particularly for properties leased to essential retailers like Tractor Supply, which have demonstrated strong performance throughout various market cycles.