Obsido Commercial arranges sale of Starbucks Single Tenant Net Lease Retail property

Obsido Commercial is proud to announce the successful closing of a single-tenant net lease (STNL) deal featuring Starbucks as the tenant, located at 1950 Sunset Dr, Norwalk, Iowa, within the Des Moines MSA. This newly constructed property secures a rare 15-year lease. Ron Kotel represented the buyer, Zoko, LLC, in this transaction, while Matt Maguire of SHOP Companies represented the seller.

“This transaction underscores Obsido Commercial’s adaptability and commitment in navigating through challenging market conditions, including rising interest rates and the complexities of new construction,” said Joshua Swank, Managing Partner at Obsido Commercial. “Our proactive approach, including meticulous site selection and on-ground due diligence across multiple states, enabled us to meet our client’s 1031 exchange deadline effectively. This deal not only demonstrates our team’s dedication to maximizing client value but also highlights the robust demand for well-located, single-tenant assets in today’s market.”

Relationships are essential to the success of Obsido Commercial. Our professional commercial real estate team is committed to providing honest, hardworking service and advice. Based in San Antonio, Texas, we specialize in advisory, investment sales, leasing, buyer & tenant representation, and sale-leaseback transactions. With decades of experience in Texas and beyond, our team provides practical insights for commercial properties.