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ESTERO — A private investor has purchased a freestanding Sprouts Farmers Market location in Estero for $14.4 million.
The investor bought the property from GBT Realty, according to a statement.
Sprouts, which was founded in 2002 and operates 356 stores across the U.S., opened the Estero location in 2020. This location is the fastest growing market for Sprouts in Florida, the release states, with the immediate trade area ranked No. 1 in population growth and No. 4 in income level across 23 Florida Sprouts locations.
A team from JLL Retail Capital Markets team led by Director Michael Brewster, Senior Managing Director Brad Peterson and Associate Tommy Isola represented the seller. “We are seeing family offices and offshore capital move to the forefront of bidding to acquire ‘best-of-the-best’ net lease assets with pandemic-resistant attributes,” Brewster says in the statement. “That was evident on this trade of a rare single-tenant grocer in Florida.”
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