SRS Real Estate Partners’ National Net Lease Group announced on Oct. 12 that it completed the $6,274,500 sale of a newly-constructed freestanding QuickChek in Stanhope.
SRS NNLG representatives represented both parties in the sale.
Executive Vice President of NNLG Patrick Nutt and Executive Managing Partner of NNLG Andrew Fallon represented the seller, a northeast-based investment partnership. Vice Presidents of NNLG Britt Raymond and Kyle Fant represented the buyer 10200 Okeechobee LLC.
QuickChek signed a brand new 20-year ground lease with five-year options to extend for the store.
“While the investor was fond of the physical real estate and QuickChek’s successful history, the enhancement of credit was certainly appealing for them in this transaction,” said Nutt on transacting a QuickChek soon after its acquisition by national convenience operator Murphy Oil.
The 5,496-square-foot store, located at 26 Route 206, was built in 2020 and has gas and convenience sales.
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