Cleeman Realty Group is pleased to announce the off-market sale of a Brookshire’s portfolio consisting of two single-tenant net leased Brookshire’s grocery stores in Hot Springs Village and Redfield, AR. The Hot Springs Village property is located on approximately 2.15 acres and consists of 29,980 SF. The Redfield property is located on approximately .54 acres and consists of 23,562 SF. Earlier this year, Brookshire Grocery Co. and Cranford’s Supermarkets entered into an agreement under which BGC acquired the two central Arkansas locations. Both properties recently completed exterior remodeling to convert the stores to the Brookshire’s banner.
Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in this transaction.
“The buyer was attracted to the strong credit of the Brookshire Grocery Co. tenant and the NNN leases that have no landlord obligations,” said Seelenfreund. “The seller felt this was an opportune time to exit the investments as cap rates for essential net lease properties have continued compress due to the COVID-19 pandemic,” said Cleeman.
Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States. The Cleeman team utilizes deeply rooted industry contacts to identify and evaluate off-market transactions with unparalleled efficiency. To sell your property or to inquire about our available acquisition opportunities, please contact one of our team members at www.cleeman.com