{"id":1004738306,"date":"2024-11-25T04:29:09","date_gmt":"2024-11-25T12:29:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004738306"},"modified":"2024-11-25T04:29:11","modified_gmt":"2024-11-25T12:29:11","slug":"exchangeright-closes-retail-sale-leaseback-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exchangeright-closes-retail-sale-leaseback-deal\/","title":{"rendered":"ExchangeRight Closes Retail Sale-Leaseback Deal"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1800\" height=\"1350\" data-attachment-id=\"1004738307\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exchangeright-closes-retail-sale-leaseback-deal\/jrwr_tractor-supply-announcement_high-res_jpg-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg\" data-orig-size=\"1800,1350\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"jrwr_tractor-supply-announcement_high-res_jpg (1)\" data-image-description=\"&lt;p&gt;Exterior shot of a Tractor Supply location.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The two companies have had business dealings for more than a decade. Image courtesy of JRW Realty&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg\" alt=\"Exterior shot of a Tractor Supply location.\" class=\"wp-image-1004738307\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg 1800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/jrwr_tractor-supply-announcement_high-res_jpg-1.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption class=\"wp-element-caption\">ExchangeRight and Tractor Supply have had business dealings for more than a decade. <em>Image courtesy of JRW Realty<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>ExchangeRight Real Estate has acquired a 13-asset retail portfolio encompassing north of 425,000 square feet from Tractor Supply in a sale-leaseback deal. JRW Realty and Berkeley Capital Advisors represented the buyer and the seller, respectively.<\/p>\n\n\n\n<p>The portfolio spans nine states, including Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, as well as South Carolina and Texas.<\/p>\n\n\n\n<p>ExchangeRight\u2019s business involvement with Tractor Supply has started more than a decade ago, according to prepared remarks by Melinda Martson, president of JRW Realty. Since then, the firm\u2019s portfolio of Tractor Supply net-leased assets has grown to more than 100 facilities as of October 31, 2024.<\/p>\n\n\n\n<p>At the end of June, Tractor Supply operated 2,254 stores in 49 states.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/the-next-star-of-post-pandemic-recovery\/\">Retail\u2019s Post-Pandemic Recovery<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>ExchangeRight provides 1031-exchangeable portfolios including net-leased and value-add properties, as well as preferred equity and REIT investments. At the end of September, its Essential Income REIT owned 353 retail assets throughout 34 states, totaling 4.8 million square feet. The properties were 98.4 percent leased on average to 37 tenants overall.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-higher-cap-rates-for-net-leased-retail\">Higher cap rates for net-leased retail<\/h2>\n\n\n\n<p>Cap rates have been rising for net-leased assets since June 2022\u2014translating into more competitive prices\u2014according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/net-lease-property-cap-rates-continue-to-rise\/\">report by The Boulder Group<\/a>. For retail, the rate inched up 3 basis points quarter-over-quarter as of September. <\/p>\n\n\n\n<p>Transaction activity for net-leased assets is expected to pick up the pace but remain within the lower confines of the historical framework, according to Boulder Group President Randy Blankstein.\u00a0<\/p>\n\n\n\n<p>\u201cFurthermore, it is expected that the 1031 market will need two or three quarters of increased activity\u2026 to absorb supply in the net lease market,\u201d the report stated.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tractor Supply sold the assets spanning nine states.<\/p>\n","protected":false},"author":3471,"featured_media":1004738307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,23891,21742,21749],"tags":[35477,51644],"class_list":["post-1004738306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-national","category-latest","category-retail","tag-berkeley-capital-advisors","tag-exchangeright"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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