Plymouth Meeting, PA, January 8, 2024 – Equity Retail Brokers, Inc (ERB) recently sold two single-tenant net lease deals, a Jiffy Lube in Houston, TX, and a KFC/Taco Bell in Wilmington, DE.
Ken Yanni of ERB represented a 1031 Exchange buyer on acquiring a Jiffy Lube deal in Houston, TX. Jiffy Lube was subject to a 15-year corporate ground lease, and the property was constructed in 2023. The investor sought a property in a tax-free state as part of their tax strategy.
Edward Ginn and Ken Yanni of ERB represented the Seller of a KFC/Taco Bell in Wilmington, DE. The tenant was a national franchisee that has operated at the location for over ten years.
“Although the single tenant net lease market experienced headwinds in 2023, assets sub-$3M with strong tenants, good fundamental real estate, and long-term leases are still attractive to all-cash buyers looking to diversify their holdings. With cap rates increasing and interest rates appearing to be leveling or decreasing, we’re seeing more buyers begin to come off the sidelines”, said Ken Yanni.
Equity Retail Brokers Investment Sales Team
Since Equity Retail Brokers was founded nearly 30 years ago, the company has provided its clients with expert capital markets real estate services. The team focuses on delivering the highest net price to the Seller with the greatest certainty of closing. Equity Retail Brokers prides itself on client–broker relationships that extend past the closing table.
About Equity Retail Brokers
Equity Retail Brokers offers expert retail tenant representation, investment sales, leasing, and asset management services to retailers, owners, developers, and landlords. Based in Plymouth Meeting, PA, the brokerage company specializes in the Pennsylvania, New Jersey and Delaware market. Equity Retail Brokers also serves clients across North America as a member of the Retail Brokers Network, the Capital Markets Real Estate Network, and ICSC.