SRS Real Estate Partners Facilitates $3.88 Million Ground Lease Sale of Circle K Property in Odessa

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 features a new, 15-year, corporate-guaranteed lease, making it an attractive investment for buyers seeking stable, long-term returns with minimal landlord responsibilities.

The transaction was facilitated by SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble, who represented the seller, a Florida-based private developer. The buyer was a private investment entity controlled by family members residing in California and Florida, and the purchase was executed to complete a 1031 tax-deferred exchange, allowing the deferral of capital gains taxes through reinvestment in like-kind property.

This sale underscores the significance of ground-leased convenience store properties, particularly those with corporate guarantees, in today's commercial real estate market. According to Nutt, "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." The SRS team has been highly active with the Circle K brand, having sold more than half of the new construction Circle K properties nationally since 2023, reflecting robust investor confidence in this asset class.

The Circle K is part of a larger retail development that will include Ford’s Garage, a three-tenant retail property, planned multi-family units, office space, and additional commercial offerings. This integrated development approach enhances the property's value by creating a synergistic environment that drives foot traffic and supports long-term tenant stability.

SRS Capital Markets has demonstrated substantial market activity, completing more than $1.5 billion in deal volume across over 400 transactions nationwide this year. The firm currently has over 845 properties actively on the market with a total value exceeding $3.7 billion, positioning it as a key player in the commercial real estate sector. For further details, visit https://srsre.com/.