JLL has arranged the $14.4 million sale of a single-tenant retail property occupied by Sprouts Farmers Market in Estero, FL. Michael Brewster, Brad Peterson and Tommy Isola of JLL represented the seller, GBT Realty, in the transaction. A private investor acquired the property.
Sprouts Farmers Market is located at 19990 S. Tamiami Trail in the Fort Myers metro area. Sprouts, which was founded in 2002 and operates 356 stores across the U.S., opened the Estero location in 2020.
“We are seeing family offices and offshore capital move to the forefront of bidding to acquire ‘best-of-the-best’ net lease assets with pandemic-resistant attributes,” said Brewster. “That was evident on this trade of a rare single-tenant grocer in Florida.”