12-asset net lease retail portfolio trades for nearly $50M

MIAMI, July 29, 2024 –  JLL Capital Markets announced today that it has completed the nearly $50 million sale of a 12-property net lease retail portfolio comprising more than 94,000 square feet across three states and five major metropolitan markets.

JLL represented the seller, a South Florida-based family office, and procured the buyer, Orion Real Estate Group.

The portfolio consists of 11 single-tenant and one two-tenant properties, including bank branches, a fitness center, pharmacy, urgent care facility and quick service restaurant. The portfolio contains 6.5 years of weighted average remaining lease term and nearly 70% of the tenants hold investment grade credit ratings. The properties are positioned in major metropolitan areas throughout Florida, Texas and Illinois.

JLL’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Senior Director Jeff Cicurel and Associates Eric Osika and Noel O’Donnell.

“This opportunity allowed for an investor to acquire a diversified net lease portfolio of scale that is situated in some of the largest and high-growth metropolitans across the U.S.,” Sharrin said. “The portfolio’s staggered lease expirations and minimal landlord expense responsibilities created a rare opportunity to control a portfolio of mid-term net lease assets with a combination of strong yield, credit and intrinsic real estate.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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