B+E, a brokerage and technology platform for net lease real estate, announced the sale of the Academy Sports + Outdoors property at 193 Stonebrook Place, Jackson, TN, for $6.75 million.
The buyer worked with a B+E broker to find the property using 1031Trade, B+E’s new proprietary online trading platform for 1031 exchange buyers. The net lease retail property has 12 years of remaining lease term. The buyer, Chimblo Family Real Estate LLC, was completing a 1031 exchange with a complex debt-equity requirement, making a thorough, national search for property imperative.
“B+E swept the US market, and we found a net lease property that matched our buyer’s specific criteria,” said Kane Morris-Webster, CCIM, a B+E broker. “Using 1031 Trade, buyers can quickly review nearly every deal currently on and off the national net lease market and instantly place offers, which streamlines the search process and lets buyers efficiently review more properties.”