The Background

We were selected to exclusively market a Tractor Supply net lease at 1988 E Florence Blvd in Casa Grande, Arizona. Stephanie Babcock in our La Jolla, California office represented the seller. The property is a 21,700-square-foot freestanding building on 3.13 acres with more than 320 feet of frontage on Florence Boulevard, one of the main retail corridors serving the fast-growing Casa Grande market. It carried a long-term, corporate-guaranteed net lease (NN) with Tractor Supply Company, one of the country’s leading rural lifestyle retailers and an investment-grade tenant. The owner wanted to take advantage of strong investor demand for nationally recognized retail tenants and get full value for the asset.

The Problem We Had to Solve

At the time we took it to market, the lease had roughly 5 years left on its primary term. In net lease investing, a shorter remaining term usually means more cautious buyers, tighter financing, and pressure on price. We were also selling into a competitive environment with plenty of other retail offerings chasing the same capital. To get the seller full value, we had to find buyers who looked past the calendar and understood two things: the strength of the Tractor Supply credit and the growth still ahead for Casa Grande.

What We Did

We ran a targeted campaign aimed at private and institutional net lease investors across the country, not a passive listing. Our team built the story around what actually drives value here: an investment-grade tenant on a corporate-guaranteed lease, 10% rent increases every 5 years, a hard-corner position on a heavily trafficked retail corridor, and a Casa Grande market with steady population and economic growth. Nick Anzalone in our New York office worked the buyer side, and through direct outreach and real conversations with qualified groups, we generated strong interest from investors actively looking for stable, income-producing retail.

How It Closed

The property sold to a private investment group for $5,760,000 at a 7.20% cap rate. The seller got the outcome they wanted in a crowded market, and the buyer picked up a high-quality net lease asset backed by a nationally recognized retailer with built-in rent growth. Two offices, one deal, both sides covered.

The Silber Difference

We do not treat brokerage as a string of one-time transactions. With Stephanie on the seller side in La Jolla and Nick on the buyer side in New York, this was one team working both ends of the country to get a single deal done at the right number. That is how we sell single-tenant net lease properties: we know the tenants, we know the buyers, and we position every asset around what a real investor is actually buying.

Handled by Stephanie Babcock (La Jolla, CA) and Nick Anzalone (New York), Silber National Net Lease Division.