Deal sheet
-Pegasus announced the first six of its “12 Days of Closings” including single tenant assets leased to At Home (West Des Moines, IA; $7.9 million; 8.0% cap rate), 7/Eleven (Los Angeles, CA; $3.2 million; 5.24% cap rate), and First Watch Restaurants (Burlington, NC; $4.0 million; 5.85% cap rate)
-The Doughty Industrial Group of Marcus & Millichap announced the sale of a single tenant net leased IOS asset located at 2212 US-6 in Coal Valley, IL for $3.05 million
-AiCRE Partners announced the sale of a single tenant Chipotle property located at 214 Indian Lake Blvd in Hendersonville, TN for $2.8 million (4.90% cap rate). The lease has under 10 years remaining.
-SRS Real Estate Partners announced the sale of a single tenant Panera Bread property located at 4268 N Varsity Ave in San Bernadino, CA for $6.8 million. The 15-year absolute net lease traded for $1,400/square foot.
-Blue West Capital announced the sale of a single tenant Advance Auto Parts property located at 13675 Huron St in Broomfield, CO for $1.99 million. The triple net lease has 6 years remaining.
-The Taylor McMinn Retail Group of Marcus & Millichap announced net lease closing activity for 4Q totaling $75 million across 44 properties in 11 states. Properties were leased to tenants including Dollar General, Firestone, Mavis Tire, and Peachtree Immediate Care.
-SRS Real Estate Partners announced the sale-leaseback of a newly built Holiday Market grocery store located at 3055 Shasta View Drive in Redding, CA for $12.8 million. The 31,000 square foot store sits on 3.83 acres and was acquired by a REIT.
Delayed debt
NNN REIT (NYSE: NNN) closed a $300 million, ~3-year term loan with a 6-month delayed draw feature and an accordion option up to an aggregate size of $500 million. The loan includes two 1-year extension options and NNN entered into forward swap agreements totaling $200 million that fix SOFR at 3.2%.
As of 9/30/2025, the company’s unsecured debt held a weighted average interest rate of 4.2% and a weighted average maturity of 10.7 years.
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