Press release
CrownPoint Partners Facilitates $7.4 Million Sale of New Construction Single-Tenant Property Occupied by Tractor Supply in Florida to 1031 Exchange Buyer
Julius Swolsky and Shannon Bona, Managing Partners and Co-Founders of CrownPoint Partners, represented both the seller and developer, Primax Properties, LLC, and the buyer, Nice Realty South LLC.
The property, located at 5600 N. Wickham Road, is positioned at the signalized intersection of Wickham Road and State Route 404 (Pineda Causeway) in Brevard County, along Florida's Space Coast, approximately 72 miles southeast of Orlando. The 22,686-square-foot building occupies a 4.58-acre parcel and features Tractor Supply's latest prototype, complete with an outdoor garden center. Built in 2022, the property is situated adjacent to CVS and 7-Eleven, and across from Wawa, providing strong visibility and convenient access in a high-traffic retail corridor.
"This was a highly targeted, off-market transaction made possible by CrownPoint's long-standing industry relationships," noted Swolsky. "Tractor Supply Company has become a highly sought-after tenant for investors, driven by its continued expansion and strong brand loyalty. Its investment-grade credit rating (BBB by S&P, Baa1 by Moody's) further enhances its appeal as a reliable long-term tenant."
The property is secured by a strong corporate guaranty with more than 13 years remaining on the original 15-year triple net lease. Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, operated 2,296 stores across 49 states as of December 28, 2024. The Melbourne location includes value-enhancing amenities, such as an on-site pet wash station and an expanded lawn and garden center offering top national brands.
"Across the board, we've continued to see heightened investor interest in Florida, driven by strong population growth, favorable tax laws, and a resilient retail market," said Bona. "This transaction is a prime example of out-of-state capital-in this case, from New England-being strategically relocated to Florida in pursuit of long-term stability and yield."
The seller, Primax Properties, LLC, is a Charlotte, North Carolina-based real estate development and investment firm with a national footprint focused on delivering repetitive retail and commercial projects for end-user tenants. Its portfolio includes over 7.8 million square feet and more than $$1 billion in investment value.
The buyer, Nice Realty South LLC, is a private investment firm based in Massachusetts and Florida.
"This transaction underscores CrownPoint Partners' ability to leverage industry relationships to execute targeted, off-market deals," said Bona. "The combination of a sought-after tenant, prime location, and a desirable lease structure highlights the growing demand for high-quality net-leased investments in Florida."
About CrownPoint Partners
CrownPoint Partners is a national real estate brokerage and advisory firm with offices in West Palm Beach, Florida, and Newport Beach, California. The firm is led by principals Julius Swolsky, Shannon Bona, and Don Bingham, recognized experts in net lease and sale-leaseback transactions. Leveraging decades of experience in investment sales, development, and institutional banking, CrownPoint provides services at every stage of the investment journey.
CrownPoint's client base spans REITs and institutions, private equity, developers, business owners, and private investors. CrownPoint's Net Lease Investments and Sale-Leaseback platforms offer tailored solutions with specializations in investment sales, acquisitions, corporate expansion, value optimization, and unique ways to unlock capital.
Committed to consistency, transparency, and responsible investment practices, CrownPoint builds lasting partnerships and helps clients achieve their long-term financial goals.
Visit: www.crownpoint.co [http://www.crownpoint.co/].
Media Contact
Company Name: CrownPoint Partners
Contact Person: Shannon Bona, Managing Partner / Co-Founder
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=crownpoint-partners-facilitates-74-million-sale-of-new-construction-singletenant-property-occupied-by-tractor-supply-in-florida-to-1031-exchange-buyer]
Phone: (203) 592-4688
Address:700 S. Rosemary Square Suite 204
City: West Palm Beach
State: Florida
Country: United States
Website: https://crownpoint.co/
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