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MADISON AND HUNTSVILLE, ALA. — SRS Real Estate Partners has negotiated the $6 million portfolio sale of two newly developed gas station/convenience stores in Alabama. The assets are located at 8464 Madison Blvd. in Madison and 11010 Highway 231-431 N in Huntsville. Both properties span 5,200 square feet and have 15-year triple-net ground leases with Circle-K in place.
Patrick Nutt and William Wamble of SRS represented the seller, a developer based in the Southeast, in the transaction. The California-based private buyer purchased the assets in a 1031 exchange. The unnamed investor purchased the fee-simple ownership of the land, which span about 2 acres for both locations, in both deals.