Kohl’s Ground Lease in Apex, NC Sold


Faris Lee investments has brokered the approximately $7.3 million ground-lease-sale of a triple net-leased property occupied by Kohl’s in Apex. Built in 2007, the 101,360-square-foot property is situated on nearly 10 acres at 1301 Beaver Creek Commons Drive. Kohl’s has 15 years remaining on its lease. Matt Mousavi and Jeff Conover of Faris Lee Investments represented both the buyer, Los Angeles-based Rhyal Apex LLC, and seller, Kentucky-based First Capital Realty Ltd., which was also the developer of the property.

The asking price was approximately $7,500,000 with an asking cap rate of 6.15% according to this Loopnet Listing.

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