Nicholas Schorsch, CEO and chairman of ARC, tells GlobeSt.com the Home Depot center fits in with "a core discipline of ours: long-term net leases. This is kind of a perfect match for our business philosophy. We like to support investment-grade credits; we work very closely with the 350 investment-grade credits in the United States. This is a core facility for them, it's in a great location and we like the credit of Home Depot." The building supplies mega-retailer is signed to a long-term lease at the Columbia facility, which is scheduled to be completed later this month.

Broad Street managing partner Robert Rizzi says in a release that although "the commercial property sales market continues to be very sluggish," the Home Depot deal is "a good example of how we've been able to identify select disposition opportunities that make good sense for particular clients. In this case, we've had longstanding relationships with both USAA Real Estate Co. and ARC."

Rizzi adds that the property represented "an obvious target for ARC," which he says is "aggressively" seeking freestanding single-tenant, commercial real estate assets, net leased long-term. "Sure enough, ARC moved very quickly in pursuing the acquisition, even closing three weeks early." Broad Street sourced the transaction on behalf of ARC and arranged the financing, which was provided by USAA.