SRS Real Estate Partners Completes $6.98 Million Sale of Tractor Supply Property in North Carolina

SRS Real Estate Partners has completed the $6.98 million sale of a 21,930-square-foot property occupied by Tractor Supply in Castle Hayne, North Carolina. The newly developed property sits on 11.5 acres at 3400 Castle Hayne Road and featured 14 years of base term remaining on the corporate-guaranteed lease at the time of sale. Calvin Short, Executive Vice President and Managing Principal of SRS Capital Markets, represented the seller, a Pinehurst-based developer, while the buyer, a Conyers, Georgia-based private investor completing the second leg of a 1031 exchange, was represented by Pierce Mayson of Matthews REIS.

The transaction underscores the continued investor appetite for properties backed by investment-grade credit tenants. Short noted that the asset provided the buyer with high-quality new construction and a stable income stream backed by Tractor Supply, a nationally recognized retailer. This sale reflects broader trends in the commercial real estate market where single-tenant, net-leased properties with strong corporate guarantees remain highly sought after for their predictable returns and lower management requirements.

Location advantages significantly contributed to the property's appeal. The site is directly across from Moore's Crossing, a proposed 27-acre development planned to include a grocery store, residential units, and retail space. It is situated within the Wilmington Metropolitan Statistical Area, which boasts more than 467,000 residents within a five-mile radius, and is just four miles from Wilmington International Airport. These factors enhance the long-term viability and potential for appreciation, making it an attractive investment for the buyer utilizing a 1031 exchange strategy.

This transaction is part of SRS Capital Markets' substantial activity in 2024, having completed over $1.7 billion in deal volume across more than 500 transactions nationwide. The firm currently has over 845 properties actively on the market with a combined value exceeding $3.7 billion. For additional information about SRS Real Estate Partners and its services, visit https://srsre.com.

The sale demonstrates the robustness of the commercial real estate sector in growing markets like Wilmington, where demographic strength and development activity create favorable conditions for institutional and private investors. Properties with long-term leases to creditworthy tenants provide stability in uncertain economic climates, appealing to investors seeking to preserve capital while generating reliable income. The involvement of seasoned brokers from SRS Capital Markets and Matthews REIS highlights the importance of specialized expertise in executing complex transactions that meet strategic investment objectives.