KEY TAKEAWAYS: AutoZone property at 4630 Veterans Memorial Blvd. in Metairie sold for $4.55 million. SRSA Real Estate and Faris Lee Investments represented the seller in the transaction. The property was acquired by an institutional buyer as a single-tenant net-leased investment. The sale refl ects continued investor demand for stable retail properties occupied by national tenants.   A single-tenant AutoZone property in Metairie has been sold for $4.55 million, according to real estate firms SRSA Real Estate and Faris Lee Investments, which represented the seller in the transaction. The property, located at 4630 Veterans Memorial Blvd., was acquired by an institutional buyer. The deal involved a net-leased AutoZone location, a type of retail investment asset that is often sought by investors for its long-term income potential. The transaction was led by Kirsten Early, partner and director of retail at SRSA Commercial Real Estate, along with Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee Investments. The firms said they combined local market expertise and national investor outreach to market the property and identify prospective buyers. According to the companies, the sale was completed amid a competitive investment environment for retail real estate assets. “By combining local market saturation with our national investor reach, we were able to deliver transaction certainty and strong results for our client,” Early said in a statement. “Our team with Faris Lee has closed north of $100M in investment sales as a team over the past several years. Having previously handled the lease for this AutoZone location, I had a strong understanding of the asset coming into this assignment, which made our partnership with Faris Lee that much more effective.” DeYoung said the team’s experience in Louisiana helped identify investors whose acquisition criteria aligned with the property. “Our team’s extensive track record in the Louisiana market allowed us to identify the right buyer profile for the asset,” DeYoung said. The sale highlights continued investor interest in net-leased retail properties, particularly those occupied by nationally recognized tenants. Such assets are often viewed as relatively stable investments because tenants are typically responsible for many property-related expenses under long-term lease agreements. SRSA Real Estate provides commercial real estate, investment sales, property management and residential services throughout Louisiana and other Gulf South markets. Faris Lee Investments is a California-based retail investment advisory firm specializing in acquisitions, dispositions, recapitalizations and other retail real estate transactions nationwide. ...read more read less