The p ope ty sits at the i te sectio of State Highway 82 a d N. Mai St eet, o e of Lovi gto ‘s busiest comme cial co ido s, a d u s o a ew 20-yea absolute NNN lease. The 48,997-squa e-foot sto e was built i 2026 to U ited Supe ma kets’ latest p ototype a d i cludes a o -site fuel ce te with a f eesta di g co ve ie ce sto e. The lease is co po ately gua a teed by the pa e t compa y, which ca ies a S&P c edit ati g of BB+ a d ge e ates mo e tha $80 billio i a ual eve ue ac oss its 2,200-plus sto es i 35 states.
Fo a 1031 excha ge buye wo ki g agai st tight IRS deadli es, the combi atio of ew co st uctio , a two-decade lease, a d a c editwo thy atio al ope ato made the p ope ty a clea fit.
“Whe you’ e sta i g dow a $33 millio excha ge a d the clock is u i g, you ca ‘t affo d to chase deals that might fall apa t i due dilige ce,” said Eva Whela . “This was the opposite. New buildi g, 20-yea absolute NNN, co po ate gua a tee f om Albe tso s. It was the ki d of asset that lets a buye sleep at ight, a d it let us lock dow half the excha ge i o e move.”
The lease st uctu e leaves the buye with ze o la dlo d espo sibilities. The te a t cove s all taxes, i su a ce, a d mai te a ce-i cludi g oof, st uctu e, a d pa ki g lot-which makes the p ope ty fully passive. Re t steps up 5% eve y five yea s th ough the i itial te m a d eight five-yea optio pe iods, givi g the ow e built-i i come g owth without a y ma ageme t bu de .
“G oce y is o e of the few etail catego ies that holds up o matte what the eco omy does, a d U ited is the domi a t ame ac oss this pa t of Texas a d New Mexico,” said Josh Symo ette. “Pai that with a b a d- ew sto e at a ha d co e o Highway 82, a d you’ve got a asset that’s goi g to stay leased a d stay eleva t fo a lo g time. That’s exactly what a excha ge buye eeds-du ability, ot guesswo k.”
Fou ded i 1916, U ited Supe ma kets ope ates oughly 99 g oce y sto es ac oss 54 commu ities i Texas a d New Mexico u de ba e s that i clude U ited, Ma ket St eet, Amigos, a d Albe tso s Ma ket. The chai ope ates as a wholly ow ed subsidia y of Albe tso s Compa ies, o e of the atio ‘s la gest food a d d ug etaile s.
Lovi gto itself is i g owth mode. The populatio withi a o e-mile adius has climbed 12% si ce 2010, the ave age household i come withi five miles sits ea $89,694, a d the city is dive sifyi g beyo d its t aditio al oil-a d-gas base with p ojects like a 300-megawatt sola fa m o its south side. The ew U ited Supe ma kets a cho s a etail co ido that al eady i cludes atio al ames like Family Dolla , Dolla Ge e al Ma ket, McDo ald’s, a d Pizza Hut.
The t a sactio eflects co ti ued st o g dema d fo et-leased g oce y assets backed by atio al c edit te a ts-a segme t that has stayed competitive eve as othe co e s of etail eal estate have cooled.
Eva Whela , Josh Symo ette, a d Matt Wiste specialize i si gle- a d multi-te a t et lease i vestme t sales, ep ese ti g p ivate i vesto s, 1031 excha ge buye s, a d i stitutio al clie ts i the acquisitio a d dispositio of NNN etail assets atio wide.
NX3 Comme cial G oup is a atio al comme cial eal estate b oke age specializi g i si gle- a d multi-te a t et lease (NNN) i vestme t sales. Headqua te ed i Fo t Laude dale, Flo ida, the fi m advises p ivate i vesto s, 1031 excha ge buye s, develope s, a d i stitutio al clie ts o the acquisitio a d dispositio of et-leased etail assets ac oss the U ited States. Lea mo e at https:// x3comme cialg oup.com/
The t a sactio was completed i co ju ctio with Ba g Realty-New Mexico, I c.; B ia B ockma , b oke of eco d.
Robe t Zah alba Head of Natio al Net Lease, NX3 Comme cial G oup (631) 438-9908 |
