Orion Real Estate Group today announced it invested more than $226 million to acquire 75 single-tenant, net-lease properties in 19 states during the last half of 2020.
These transactions included the deployment of a $70 million fund to purchase a portfolio of 65 free-standing properties with high-credit-quality, essential business tenants already in place, including drug stores, restaurants, grocers, banks and auto-service retailers. Additional acquisitions during the third and fourth quarters included 16 Huddle House restaurants, 11 Car-Mart used-car dealerships and 11 International Car Wash Group (ICWG) locations throughout the Southern United States, as well as big-box retail space already under lease at Millenia Center in Orlando, Fla.
According to Orion President Kevin Sanz, “Each of these tenants represent frontline businesses that continued to generate traffic and sales through the COVID-19 pandemic. Not only are the properties located in thriving and growing geographic markets, but as outparcels, they have been able to adapt more quickly to consumer demand for drive-through services and dedicated parking spots for order pick-ups. We expect our transaction activity to continue through 2021 as we focus on sustaining profitability and value for our investors.”
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.