Ground + Space today announced the sale of The Tire Choice in The Villages, Florida. Michael Zimmerman exclusively marketed the property, which sold within 2.5 percent of the asking price to an all-cash 1031 buyer. This listing garnered multiple offers thanks to the property’s strong corporate tenant and The Tire Choice’s status as an essential retailer.
This property is a prime example of a stable, income-producing asset that requires no landlord maintenance. The Tire Choice’s NNN lease features a corporate guarantee, multiple five-year renewal options and scheduled rental increases. The Tire Choice is conveniently located along a dense retail corridor that includes other national tenants like Publix, Walmart, Bealls, The Fresh Market and Red Lobster.
The Tire Choice benefits from an ever-growing consumer base as The Villages continues to grow in population and popularity. Forbes recognized The Villages as one of the “25 Best Places to Retire” in the United States for the second time in 2018, and The Villages was recently named the best-selling master planned community for the seventh consecutive year in 2020.
About Ground + Space
Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!