Crestwood, MO – May 6, 2015 – (RealEstateRama) — Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed the $25,400,000 investment sale of two retail buildings located in the Big Bend Crossing shopping center of Crestwood, Missouri, a St Louis suburb. The buildings, located at 10244 & 10248 Big Bend Road were occupied by long-term tenants, Sam’s Club and Hardee’s, at the time of the purchase.
Ryan Barr and Ryan Bennett, principals of Lee & Associates – North San Diego County and founders of Barr & Bennett Net Leased Investment Group, represented the undisclosed seller and undisclosed buyer in the transaction. This is the second Sam’s Club transaction the pair have brokered in the last 18 months.
“The buyer chose to purchase this Sam’s Club store because of its success and strong operating history,” said Bennett. “With more than six years remaining on the lease and thirteen five-year renewal options, the buyer, who purchased the property as part of 1031 exchange, assumed financing (life insurance debt) and plans a long term hold of the triple net investment (NNN).”
The Sam’s Club store occupies 130,466 square feet and Hardee’s restaurant is 3,472 square feet.