JRW Realty Facilitates Purchase of Scheels in Great Falls, Montana
Published: July 12, 2022
PASADENA, Calif. - JRW Realty, a commercial real estate firm with a specialization in sourcing net-leased properties for institutional clients, announced it has facilitated the purchase of a net-leased Scheels in Great Falls, Mont.
Carol Vena, real estate advisor with JRW Realty, represented the buyer, while Cushman & Wakefield represented the seller.
With the addition of this 99,279-square-foot sporting goods store, JRW Realty has helped its clients identify and acquire more than 110 properties year-to-date, with more than 2.2 million square feet of commercial space, representing over $500 million in total acquisitions.
Melinda Marston, JRW Realty president of single-tenant net lease, said that the tenant’s strong track record and the specifics of this location made the property especially attractive.
“This represents our buyer’s first acquisition of an experience-based retail and sporting goods store,” Marston said. “Similar to many of the other recession-resilient tenants that our buyers have a focus on, Scheels weathered the Great Recession of 2008–2012 extremely well, without any need to downsize or lay off staff, due to its market positioning and loyal customer base. Furthermore, the tenant has also shown a strong commitment to the store at this location, which features very high sales per square foot.”
Marston added that JRW Realty’s buyers’ specific criteria require diligent sourcing of properties, but once the right kind of property is identified, their buyers are able to move swiftly to close.
“Our clients continue to seek net-leased properties backed by tenants with investment-grade credit ratings that operate in recession-resilient sectors,” she said. “Their strong balance sheets and streamlined due diligence processes tend to make for smooth closings, enabling them to close within 28 days of a signed contract.”
About JRW Realty
JRW Realty is a commercial real estate brokerage firm that has closed on more than 900 properties valued at more than $3.6 billion on behalf of its clients. JRW Realty’s team places special focus on due diligence, reviewing over 100 properties each week and only choosing to source for clients the best 3-4% according to their rigorous acquisition criteria. For more information, visit www.jrwrealty.com.
Single-Tenant Net Lease Sourcing Contact
Melinda Marston, President - STNL
CA DRE #01950977
Multi-Tenant Retail Sourcing Contact
Joel Staffilino, President - Multi-Tenant Retail