SRS Real Estate Partners closes $9.11 million sale of convenience store in Texas

SRS Real Estate Partners completed the $9.11 million sale of a newly developed 6,461-square-foot convenience store property occupied by TXB in the Austin, Texas, region.

Situated on 4.52 acres of land at 145 Lehman Road in Kyle, Texas, the property has a 20-year, corporate-guaranteed triple net lease in place. TXB, or Texas Born, is a family of customer-oriented convenience stores and quick food operations with more than 48 locations in Texas and Oklahoma.

SRS Capital Markets Executive Vice President and Managing Principal Patrick Nutt and Senior Vice President William Wamble who are based in Florida represented the seller, a Southeastern U.S.-based private developer. The buyer was a Virginia-based 1031 exchange buyer.

TXB was named by CStore Decisions as the winner of its 2023 Convenience Store Chain of the Year. The property is situated on a signalized intersection in a dense retail corridor and is near the Interstate 35 on/off ramp.

Year to date, SRS Capital Markets has completed approximately $731 million in deal volume comprised of 182 transactions in 34 states. SRS currently has in excess of 698 properties actively on the market with a market value surpassing $3.7 billion.