Winnfield, LA – Lee & Associates, one of the largest national commercial real estate firms, has completed the $3,350,000 sale of an approximately 19,097-square-foot retail building leased to Tractor Supply Company. Constructed in 2015 as a build-to-suit for the tenant, the building sits on an approximately 4.25-acre parcel and is located at 1805 W Court Street in Winnfield, Louisiana. The site features a 15,000-SF fenced outdoor display area, ample parking, drive-around truck access, and two (2) overhead loading doors.
Tractor Supply has 10 years remaining on its double-net lease, which features 10% rent increases every five years in the primary term and renewal options. The subject property is located along Highway 167, which offers excellent visibility to 12,000 cars per day and easy in/out access to the property.
Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County in conjunction with Louisiana Licensed Real Estate Broker Rod Noles represented the Seller, Silver Lantern, LLC. The Buyer was a private Southern California based investor who was completing a 1031 tax deferred exchange. The Buyer was not represented by Lee & Associates. Barr and Bennett were able to achieve 96% of the asking price despite marketing the property during the height of the Covid-19 pandemic.
Barr & Bennett Net Leased Investment Group, a team within Lee & Associates-North San Diego County, specializes in the acquisition and disposition of net leased assets nationwide.