A Castle Hayne property leased by Tractor Supply Co. recently changed hands for close to $7 million.
The purchase included the nearly 22,000-square-foot store and the surrounding 11.5 acres at 3400 Castle Hayne Road. According to a news release, the buyer is a Georgia-based private investor who used the purchase to complete “the second leg of a 1031 exchange,” a process that allows investors to defer capital gains taxes by reinvesting proceeds from an investment property sale into another qualifying property.
Deed records show the investor, Robdale Inc., purchased the property in late August for $6.98 million. The entity is registered to Stephen Giles and lists A. Randolph Barksdale as its CEO. Pierce Mayson with Matthews REIS represented the buyer in the transaction, according to the release…