A pair of just-developed single-tenant properties in Pasco County have sold.
The ground lease portfolio at 18640 and 18710 State Road 54 sold for $6.55 million. The buyer was Bay Street Ventures in Lutz, which bought the properties as part of a 1031 exchange.
The tenants are Dutch Bros. Coffee and First Third Bank.
Dutch Bros., at 18640 State Road 54, is 950 square feet and sits on .84 acres. It has 15 years remaining on a corporate guaranteed lease.
The Fifth Third Bank is 1,900 square feet and sits on .92 acres. The bank has 20 years left on a corporate guaranteed lease.
Both were built in 2025.
SRS Capital Markets’ Patrick Nutt and William Wamble represented the seller, Atlanta-based WDG Real Estate Partners.
