JRW Realty has closed on the transaction of a $10 million 52,227-square-foot property occupied by Hobby Lobby in West Des Moines, Iowa.
The property closed at contract price without a financing contingency and is wholly occupied by Hobby Lobby, a national company that experienced revenue of $5.3 billion in 2020 and ranks 79th on the Forbes list of America’s Largest Private Companies.
JRW Realty analyst Christopher Thompson facilitated the transaction under the guidance of Joel Staffilino, president of multi-tenant retail. Matthews Real Estate Investment Services represented the seller in the transaction.
A JRW statement said the single-tenant property meets the acquisition criteria of their buyers who are looking for grocery-anchored multi-tenant shopping centers and individual net-leased properties.
“JRW Realty’s streamlined closing processes enables its team to close transactions in as short as 28 days after going under contract, and the firm’s relationship-based approach to net-lease-focused real estate has enabled JRW Realty to source over 13 million square feet of property for its clients since 2012,” the statement said.
As a commercial real estate brokerage firm, JRW Realty has closed over $3 billion in transactions across over 850 properties on behalf of its clients. JRW Realty’s team reviews over 100 properties each week throughout the U.S.
JRW Realty is headquartered in Pasadena at 1055 E. Colorado Blvd.