Hutton Sells $186M National Retail Portfolio
- Jan 30, 2018
Hutton has disposed of a single tenant retail portfolio comprising 59 properties across 14 states for $185.8 million. From the proceeds of the sale, the company will invest in assets totaling more than $350 million of project costs throughout the year. This volume is in addition to the nearly $340 million of project costs Hutton originated in 2017.
The assets are net-leased to industry leading tenants including Walmart Neighborhood Market, Dollar General, O’Reilly Auto Parts and Family Dollar.
“We are very excited to announce this portfolio sale,” said Karen Hutton, president & chief executive officer of Hutton, in prepared remarks. “This is a fantastic achievement for the Hutton Team and demonstrates the value we create for our clients, investors and the communities we help support. The proceeds from this sale will allow us to continue our tremendous pace of execution and further solidify our exciting and growing company.”