SRS Real Estate Closes $10M Alabama Walmart Sale

Senior Vice Presidents Dan Elliot and Sean Lutz represented the seller of the nearly 42,000-square-foot property.

Image of 4201 Hargrove Road East e1595847478222

4201 Hargrove Road E. Image courtesy of SRS Real Estate Partners

SRS Real Estate Partners’ National Net Lease Group has closed the $10.3 million disposition of a 41,921-square-foot retail property in Tuscaloosa, Ala. Senior Vice Presidents Dan Elliot and Sean Lutz represented the seller, a private investor. The buyer acquired the asset as part of a 1031 exchange. 

Located just south of Interstate 20 at 4201 Hargrove Road E., the asset is 5 miles from The University of Alabama and DCH Regional Medical Center. The property is within a 5-mile radius of more than 87,000 residents. The single-story building was completed in 2015 on a 7.2-acre site and is fully leased to Walmart Neighborhood Market, which also has an on-site gas station with 12 pumps. According to Lutz, the tenant’s lease has 10 years remaining.

At the end of June, a different SRS team arranged the $9.2 million sale of part of a nearly 34,000-square-foot shopping center outside Phoenix to another 1031 exchange buyer. The deal closed at a cap rate of 6.75.

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