Wal Mart Ground Lease Sells in Sarasota


An investor acquired the Wal-Mart gound lease at 3560 Bee Ridge Rd. in Sarasota, FL from Florida Land Trust #GW-1 for $10.55 million. The in-place lease is a 20-year, absolute triple-net deal with 19 years remaining on the master term. There are 16 five-year renewal options with 5% increases for each option period. The land is improved with a 41,000-square-foot WalMart Neighborhood Market that was built in 2014. Clint Conway and Michael Gallatin...

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