Newly Constructed Property with Long-Term Tenant
The buyer was represented in the transaction by Jon Busse and Joe Crotty with Colliers International's San Diego region. Luke Waters of SWE Realty represented the seller in the transaction.
Currently the building is occupied by O'Reilly Auto Parts, which has 14.5 years remaining on its 15-year lease. The 7,396-square-feet property is located at 463346 State Road 200. The building is located near U.S. Route 17 and is surrounded by retailers like Home Depot, Walmart, Target, Kohl's, Petco, Publix, Aldi, TJ Maxx and Autozone.
"As a newly constructed property with a long-term, high credit and recession-resistant tenant in place, this property will remain an ideal investment for the new ownership," said Busse in a prepared statement. "Our team is proud to have represented the San Diego-based investor in the acquisition of this property to complete a 1031 tax deferred exchange."
By Kamila Knaudt