ExchangeRight, a Pasadena, CA-based provider of diversified real estate DST and REIT investments, said Monday that its Net-Leased All-Cash 9 DST was fully subscribed. The $24.78-million portfolio of net-leased real estate, backed by primarily investment-grade companies operating in necessity retail, provides investors with monthly distributions at a current rate of 5.20%.

Net-Leased All-Cash 9 DST features five net-leased properties tenanted by Tractor Supply, Dollar Tree, and Dollar General Market. The portfolio’s properties span 75,148 square feet and are located in Texas, Iowa and Florida.

“Our commitment to capital preservation and stable income through a debt-free option for necessity-based investments continues to resonate with investors nationwide,” said Joshua Ungerecht, managing partner at ExchangeRight. “We are grateful for the continued trust and support from our investors, and we remain dedicated to serving them by designing our offerings to provide multiple strategic exit options designed to meet their potential future tax-advantaged 1031, 721 or liquidity needs.”

Starboard CRE, reportedly the largest, independently owned commercial real estate firm in San Francisco, has listed 6440 Shellmound St. in Emeryville for $6,500,000. The fully wired data center facility is fully leased under an absolute triple-net lease to Lumen Communications, LLC until 2026.

Serving as CenturyLink’s key telecommunications facility since 2000, the property benefits from a windowless design that enhances temperature regulation for critical systems. The Bay Area’s mild climate further reduces cooling costs, making it an efficient and strategic location for telecommunications operations, Starboard said.

“We’re thrilled to bring this exceptional property to market,” said Craig Hansson, managing principal at Starboard. “It’s not every day you find a facility like this that’s already set up with this level of infrastructure located right in the heart of the Bay Area tech scene. For companies looking to establish or expand their data operations, this is about as turnkey as it gets.”

Register Today to “Be in the Room” when Michael Brennan receives Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation! 

Hilco JCP, LLC, an affiliate of Hilco Real Estate, LLC and manager of Copper Property CTL Pass Through Trust, said Thursday the trust has brought to market 121 net-leased JCPenney properties located across 35 states representing more than 16 million square feet. The majority of the portfolio’s properties are located in major metropolitan areas such as Austin, Miami, Houston, Los Angeles and New York. Fifty percent of the portfolio is in the Sunbelt, including 21 in Texas.

Averaging 132,700 square feet per store, the portfolio is the subject of an absolute, triple-net long-term master lease with the sole tenant, JCPenney. The retailer is owned in a joint venture comprised of two of the largest retail mall owners in the U.S., Simon Property Group and Brookfield Asset Management. 

Hilco JCP, LLC has chosen Newmark’s national retail capital markets team to market this portfolio. The targeted deadline for submitting offers is Feb. 26. Click here for additional information.

Marcus & Millichap closed the sale of a net-leased Starbucks location in Third Lake, Illinois. The property sold for $2,487,804.

“Quick-service restaurants are one of the most desired assets in the net leased space for our investors,” said Damien Yoder, first vice president of investments. Yoder and Madison Harman of The Yoder-Harman Group, investment specialists in Marcus & Millichap’s Indianapolis office, procured the buyer, 12947 Woodbridge Street, LLC, a private investor. Steven Weinstock, Broker of Record in Illinois, assisted in closing the transaction.

“The corporate tenants with strong balance sheets located at high visibility/high traffic locations are a major driver.,” added Yoder. “Their landlord-friendly leases with strong rental increases act as a strong inflation hedge and continue to push the demand for these types of investment assets.”

The Starbucks property is located at 34354 US-45 in Third Lake. Built in 2024, the asset boasts the tenant’s latest building prototype and high-capacity drive-through on a 1.09-acre lot.

Loan originator David Brody with Eastern Union arranged $12 million toward the refinancing of a one-story, 35,210-square-foot industrial building in the Williamsburg section of Brooklyn. The property is currently net-leased by the City of New York.

The refinancing carried a 65% loan-to-value ratio. The loan’s term was five years, with interest-only payments over the full term. The interest rate was set at 6.54%. The identities of neither the owner nor the lender were disclosed.

“David Brody leveraged his real estate expertise to deliver a deal structure that was highly favorable for his client,” said Abe Bergman, president of Eastern Union. “While we have national reach, Eastern Union also has an excellent reputation as one of the most prolific brokers of commercial real estate mortgages throughout Brooklyn.”

Built in 1931, the property occupies a 1.04-acre parcel between Franklin Street and Wythe Avenue. It includes a 10,000-square-foot parking lot.

Marcus & Millichap closed the sale of Dollar General, a 9,100-square-foot net-leased property located in Toluca, Illinois. The asset sold for $1,093,000.

Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was secured and represented by Jeremie Johnson and Nathan Whalen, investment specialists in Marcus & Millichap’s Indianapolis office. Steven Weinstock, Illinois Broker of Record, assisted in closing this transaction.

Dollar General is located at 710 IL-117, roughly 30 miles from Peoria. The property offers easy access to Interstate 39 and Illinois Route 17. Javitch, the lead agent on the deal, said, “Despite a slowdown in transactional volume across the net-leased sector, we were successful in finding a local 1031 buyer and facilitating a closing in less than three weeks from the execution of a contract.”

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.

El Segundo-based Beta Agency has completed the sale of a Rally’s fast-food restaurant in Porterville. Adam Friedlander, SVP of Beta, represented both the seller and buyer of the 30,056-square-foot property located at 1230 W. Henderson Ave. The sale price was $2,030,000.

Rally’s has been an established presence at this location since 2013. Four-and-a-half years remain on the primary triple-net lease term.

Friedlander said, “The successful sale of the Rally’s restaurant serves as a testament to the vibrant potential within Porterville’s commercial real estate market. This achievement underscores our unwavering commitment to consistently deliver exceptional results for both sellers and buyers operating in the dynamic and evolving landscape of commercial retail space.”