TAMPA, FL—In sale that represents the second half of a 1031 exchange, a Tuffy Auto Center and Dairy Queen in Pasco County's Wesley Chapel, FL have traded hands. The retail properties sold for a combined $2.35 million, or $449 per square foot.

Franklin Street's Rafeal Wright and Jonathan Graber represented the seller, J&J Wesley Chapel, an Illinois limited liability company. Franklin Street also found the buyer, a Kentucky corporation with an office in Bowling Green, KY.

“There was a great amount of interest created in a very small window of time—going under contract in only two weeks,” Wright tells GlobeSt.com. “Many investors are chasing the safest deals with solid underlying real estate. Many of the buyers we are seeing are exchanging into more passive-style investments with little-to-no owner responsibility.”