Net-Leased Grocery Store Portfolio Trades Hands in Texas

Stephen
Berchelmann

SAN ANTONIO, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a portfolio of 13 Lowe’s Markets located throughout Texas. The terms of the sale were not disclosed.

Chad Knibbe, a senior associate, and Stephen Berchelmann, an associate, both in Marcus & Millichap’s San Antonio office, represented the seller.

“The properties were brought to the market earlier this year and received multiple offers,” says Knibbe.  “The buyer, in an effort to jump ahead of the competition, put the portfolio under contract and closed the deal all cash within 10 days.”

Chad Knibbe

“This transaction shows the market’s appetite for quality net-leased assets,” adds Berchelmann. “Grocery stores are in especially high demand.”

Lowe’s Markets operates under a variety of names including Super S Foods, Super Save, Lowe’s Market, Big 8 Food Stores, Shop n’ Save, Lowe’s Pay N Save, Avanza Supermarket, Family Center, Fiesta Foods, Mercado, La Feria, Food Jet and Fiero.

The stores are located in Texas, New Mexico, Arizona and Colorado and range in size from 2,000 square feet to 65,000 square feet.

Contact:

Ben Johnson,

Marketing Director

(925) 953-1736