SRS Real Estate Partners Facilitates $6.98 Million Tractor Supply Property Sale in Strategic North Carolina Transaction

SRS Real Estate Partners has completed the $6.98 million sale of a 21,930-square-foot property occupied by Tractor Supply in Castle Hayne, North Carolina. The transaction represents a significant net-lease investment opportunity that underscores the continued demand for properties backed by investment-grade corporate tenants in strategically located markets.

The newly developed property sits on 11.5 acres at 3400 Castle Hayne Road and featured 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short, Executive Vice President & Managing Principal of SRS Capital Markets, represented the seller, a Pinehurst-based developer. The buyer, a Conyers, Georgia-based private investor completing the second leg of a 1031 exchange, was represented by Pierce Mayson with Matthews REIS.

Short noted that the asset offered the buyer high-quality new construction and a stable income stream backed by Tractor Supply, an investment-grade credit tenant. This combination of factors made the property particularly attractive to investors seeking reliable returns in the current economic environment. The transaction demonstrates the resilience of net-lease properties featuring strong corporate tenants, even as broader commercial real estate markets face uncertainty.

The property's location provides significant strategic advantages, positioned directly across from Moore's Crossing, a 27-acre proposed development planning to include a grocery store, residential units, and retail space. This proximity to future development enhances the property's long-term value proposition and growth potential. Situated within the Wilmington Metropolitan Statistical Area, the property benefits from a population of more than 467,000 residents within a five-mile radius and proximity to North Wilmington International Airport, just four miles away.

This transaction contributes to SRS Capital Markets' robust 2024 performance, which has exceeded $1.7 billion in deal volume through more than 500 transactions nationwide. The firm currently markets over 845 properties with a collective market value surpassing $3.7 billion. For more information about SRS Real Estate Partners, visit https://srsre.com.

The sale highlights several important trends in commercial real estate investment. Properties with long-term leases to creditworthy tenants continue to attract capital from investors seeking stability amid economic fluctuations. The use of a 1031 exchange by the buyer demonstrates the ongoing importance of tax-deferred exchange strategies in commercial real estate transactions. Additionally, the property's strategic location near planned mixed-use development underscores how infrastructure growth and demographic trends influence investment decisions in secondary markets.

For the Wilmington metropolitan area, transactions like this signal continued investor confidence in the region's economic prospects. The combination of population density, transportation access, and planned development creates a favorable environment for retail investment. The transaction also reflects the broader strength of net-lease retail properties, particularly those featuring home improvement and agricultural supply retailers that have demonstrated resilience during various economic cycles.