RealtyLink, a private developer based in Greenville, S.C., sold a newly built, single-tenant Sprouts Farmers Market in Nashville, Tenn., to a private investor from the Los Angeles area.
The sale included a triple-net lease with five five-year renewal options, each featuring rental increases, providing a stable income stream for the buyer. The transaction highlights ongoing demand from West Coast capital for income-producing assets in high-growth, tax-friendly states.
Property: Sprouts Farmers Market, Nashville, Tenn.
Price: $9.45M
Seller: RealtyLink
Buyer: Private investor in California
Built in 2023, the 22,988-s.f. Sprouts Farmers Market sits on a 2.85-acre lot located at 5821 Nolensville Pike. The property is located across from a Walmart Supercenter and is surrounded by national retailers, including Lowe’s, Chick-fil-A, Chase Bank, Starbucks, Walgreens and Kroger. Nashville International Airport is nine miles away, and Downtown Nashville is 13.3 miles away.
Jeff Lefko, EVP and partner, and Bill Asher, EVP, of Hanley Investment Group, along with Joe Caccamo, partner, and Lea Kuehnhackl, transaction manager, of CP Partners and ParaSell, Inc., represented the seller. Chris Thompson, associate, of JRW Realty, represented the buyer.
“We generated multiple competitive offers from West Coast-based private investors for this trophy, single-tenant asset, ultimately selecting a Southern California-based buyer and negotiating a quick 22-day escrow,” said Lefko. “The strong response underscores the steady demand we’re seeing from this buyer pool for high-quality, net-leased assets backed by essential retailers in growth markets — momentum that continues to maximize value for sellers.”
While the deal moved quickly, it was not without its hurdles.
“One of the challenges we faced in this transaction was navigating buyer sensitivity around elevated and fluctuating interest rates. Even high-quality, net-leased assets can face increased scrutiny as investors weigh borrowing costs against long-term yield,” said Lefko. “To overcome this, Hanley Investment Group leveraged its deep relationships with West Coast-based private investors who are actively seeking stable, income-producing assets in growth-oriented, tax-friendly markets like Nashville.”
