MANASSAS AND HAMPTON, VA. — SRS Real Estate Partners has negotiated the ground-lease sales of two single-tenant retail properties in Virginia net-leased to Chase Bank. The assets include 9560 Liberia Ave. in Manassas and 1700 W. Mercury Blvd. in Hampton, which combined to sell for more than $8 million. Both buyers were based in California and purchased the bank branches in 1031 exchanges.
Andrew Fallon, Patrick Nutt and William Wamble of SRS represented the seller in the Manassas deal, an investment firm based in New York. Matthew Mousavi, Patrick Luther and Fallon of SRS represented the seller in the Hampton transaction, a developer based in Dallas.
SRS is currently marketing two more retail properties net-leased to Chase Bank in Rockville, Md., and Washington, D.C.