A 10-property, single-tenant net lease retail portfolio has sold for $75,890,706 to Agree Development LLC, an affiliate of Agree Realty Corporation (NYSE: ADC), one of the nation’s largest buyers of single-tenant net leased assets. The transaction was led by Kidder Mathews’ Senior Vice President and Shareholder, Paula Danker, CCIM.
Totaling 322,304 square feet across Colorado, Illinois, Nevada, Texas, and Wisconsin, the portfolio includes:
- Five Albertsons-guaranteed grocery stores (three Jewel-Osco locations, one Safeway, and one Tom Thumb)
- Four auto service centers (one AAA ground lease, one Firestone, one Sun Auto, and one Jiffy Lube)
- One Dutch Bros Coffee
Danker represented the seller—a private investor who originally made their mark developing residential real estate in Beverly Hills before expanding into multifamily properties throughout Greater Los Angeles. Danker has worked closely with the client since 2010 and advised on the acquisition of many of these assets following a large multifamily sale in 2020. This disposition marks the next chapter in the client’s investment cycle.
To facilitate transactions in multiple states, Danker—who holds real estate broker licenses in both California and Texas—collaborated with brokers including Scott Reid of Parasell, Inc. and Jon Nesbitt, Kristen Zimmerman, and Remy Tams, individually licensed brokers affiliated with Designated Broker Solutions.
“My clients spent decades building a significant multifamily portfolio through hard work and dedication. While multifamily properties offer strong returns, they also come with intensive management and maintenance demands. Transitioning into net-leased investments is a smart move at this stage of the investment life cycle, allowing owners to enjoy their retirement while receiving stable income from nationally recognized tenants on long-term leases,” said Danker. “This transaction represents the completion of a full investment cycle—from strategic planning and acquisition to successful disposition. It’s a great example of how long-term partnerships and disciplined execution can create enduring value.”
“The complex nature of this transaction required a highly trusted and competent team,” said the seller. “Paula’s experience, deep knowledge, integrity, and genuine care for my best interests are the reasons I’ve worked with her for over a decade. She collaborates seamlessly with my legal team, remains fully engaged throughout the entire sale process, and expertly coordinates every detail to ensure a smooth and successful closing.”
“This was a large, multi-state transaction with plenty of moving parts,” said Morley Mendelson, the seller’s attorney. “I’ve been practicing real estate law for over 40 years, and it’s rare to see a broker handle a deal of this scale with the kind of precision and professionalism Paula brought to the table.”
Danker is one of Southern California’s most active net lease investment brokers, bringing more than three decades of experience. Over the course of her career, she has closed more than $1 billion in transactions, including over $104 million in 2025 alone.
The sale demonstrates the strength of the net lease investment market and the enduring appeal of high-credit tenants in strong demographic locations. With corporate-guaranteed, absolute NNN lease structures in place and an average remaining lease term of over 12 years, the assets provide long-term income stability.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
