Burlington, MA SRS Real Estate Partners’ National Net Lease Group (NNLG) has completed the $7.25 million sale of an 8,815 s/f, multi-tenant retail property located at 201 Middlesex Tpke. The property is fully occupied by five tenants including Starbucks (with drive-thru) and The Sherwin Williams Company.
SRS NNLG’s managing principals Matthew Mousavi and Patrick Luther represented the seller, a private developer from the Northeast. The buyer, an East Coast-based private partnership, was represented by SRS NNLG’s first vice president, Susan Harris.
“The buyer was a repeat client looking to satisfy a 1031 exchange,” said Harris. “This was an ideal property offering quality tenants in a thriving, densely populated retail market.”
Built in 2016 and situated on just under one-acre, the property is across the street from a one million s/f office property and is near I-95.
In 2021, SRS’ Investment Properties Group (IPG) and NNLG)completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market, with nearly 200 properties sold year-to-date in 2022.