SRS Real Estate Partners Facilitates $3.88 Million Circle K Ground Lease Sale in Strategic Florida Development

SRS Real Estate Partners has completed the $3.88 million ground lease sale of a Circle K property located at the northwest corner of SR-54 and Asturian Parkway in Odessa, Florida. The 5,200-square-foot property sits on 1.7 acres and features a new, 15-year, corporate-guaranteed lease. SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based private developer.

The buyer was a private investment entity controlled by family members residing in California and Florida. The purchase was executed to complete a 1031 tax-deferred exchange, a strategy that allows investors to defer capital gains taxes by reinvesting proceeds from the sale of one property into another similar property. This transaction demonstrates how sophisticated investors utilize tax strategies to optimize their real estate portfolios and preserve capital for further investment.

The Circle K is part of a larger retail development that will include Ford's Garage, a three-tenant retail property, planned multi-family units, office space, and additional commercial offerings. This mixed-use development approach reflects the growing trend of creating destination centers that combine retail, dining, and residential components to drive sustained foot traffic and economic activity.

Patrick Nutt emphasized the appeal of ground-leased Circle K assets, stating they are seen as a gold standard for investors seeking cash-flowing assets with no landlord responsibilities and scheduled rental increases. Nutt noted that the SRS team has been highly active with the Circle K brand, having sold more than half of the new construction Circle K properties nationally since 2023. This transaction is part of SRS Capital Markets' broader activity, which has completed more than $1.5 billion in deal volume across more than 400 transactions nationwide this year.

SRS currently has over 845 properties actively on the market with a total market value exceeding $3.7 billion. The firm's expertise in retail real estate and its extensive transaction volume underscore its significant role in the commercial real estate market. For more information about SRS Real Estate Partners, visit https://srsre.com.

The transaction highlights several important trends in commercial real estate investment. Ground leases with national credit tenants like Circle K provide investors with stable, predictable returns while eliminating property management burdens. The 1031 exchange component demonstrates how tax-efficient strategies continue to drive investment activity across state lines. SRS's dominant market position in convenience store transactions, particularly with the Circle K brand, positions the firm as a critical intermediary in this specialized sector of commercial real estate.