St. Paul, Minn. — AEI Capital Corporation has purchased four single-tenant net-leased properties, each for all cash, in Texas, South Carolina, Mississippi and Georgia.
The Texas property is a 12,900-square-foot building in Galveston on a long-term lease to PetSmart. It was purchased for $2.4 million. In Florence, S.C., AEI bought a 4,200-square-foot building on a long-term lease to Vitamin Shoppe for $1.5 million. Steve Horvath of Berkeley Capital Advisors represented the seller.
In Starkville, Miss., AEI now owns a 19,000-square-foot building leased to Tractor Supply Company. It was purchased for $2.85 million, and in Columbus, Ga., AEI purchased a new 8,300-square-foot Family Dollar for $1.55 million. Bryan Belk of Franklin Street represented the seller.
Ian Harrison provided in-house representation for AEI in the Texas, South Carolina and Mississippi transactions. Marnie Nygard represented AEI in the Georgia deal.