SRS Brokers $3.1M Sale Of New Retail Property Leased To Starbucks

SRS Real Estate Partners has brokered the $3.1 million sale of a newly built retail property located at 1217 Finley Ave. in Davenport, a suburb of Orlando.

The 2,500-square-foot, freestanding building was delivered in October and has a 10-year lease in place with Starbucks Coffee.

Patrick Nutt, William Wamble and Robert Dillard of SRS represented the seller, an unnamed development firm based in Florida, in the transaction. The buyer is also based in Florida and purchased the property in a 1031 exchange at a 5.25 percent cap rate.

Source:  RE Business