March 10, 2022 – Russell Verzino, Zach Smith, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of SRS Distribution in Mobile, Alabama. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,146,900.
SRS Distribution is located at 3801 Moffett Road in Mobile, Alabama. The stand-alone building was constructed in 1967 and renovated in 1996 and consists of 22,500 square feet and sits on a 3.62-acre lot. The property benefits from a large fenced in lot with rare outdoor storage and has four (4), grade-level overhead doors. SRS Distribution has approximately 3 years remaining on a double net lease that has three (3), 5-year renewal options. The lease calls for attractive 2% annual rent increases throughout the base lease term and the renewal options. SRS is one of the largest and fastest growing building products distributors in the United States. Named on America’s Best Midsize Employers in 2021 and America’s Largest Private Companies 2020, the company is positioned for continued growth. The Property benefits from it’s proximity to the Port of Mobile, an integral component of the Mobile economy. The Port is in the midst of a $365.7 Million Expansion Project that is set for completion by early 2025 and is taking the channel to 50 feet deep allowing some of the world’s largest ships to enter. Deepening the channel was preceded by nearly $1.3 billion in public seaport infrastructure at Alabama’s only deep-water port. Part of that overall investment included $550 million in container intermodal investments that offered a new gateway for agribusiness shippers and ocean carriers.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.