WATERTOWN, MA—An affiliate of Inland Real Estate Acquisitions has acquired the triple net leased Home Depot store here. In addition, a triple net leased Home Depot store in Seaside, CA also changed hands.

Brokerage firm Savills Studley reports the 126,480-square-foot Home Depot building located at 615 Arsenal St. in Watertown MA was sold by Boston-based Eastern Real Estate to an affiliate of Inland Real Estate Acquisitions of Oak Brook, IL. The Home Depot location opened in 2001 and has 17 years remaining on its primary lease term. No financial terms of the transaction were reported. Kyle Miller and Bill Bauman, who are based out of Savills Studley's Los Angeles office, represented the sellers in both transactions.

“The seller elected to leverage the current market demand for trophy, infill and single-tenant NNN assets in order to unlock the capital and re-deploy it into other projects and investments,” states Miller. “With such high demand for retail coupled with institutional investors being underweighted in this asset class, it's an ideal time to be a seller of core assets.”

Eastern Real Estate acquired the building in 2000 as part of the Anne & Hope department store portfolio that included more than 1 million square feet of retail space. The property is part of The Arsenal Mall in Watertown, located near Harvard, MIT and downtown Boston.

In the second trade of a Home Depot triple net leased asset, Savills Studley reports the sale of the Seaside, CA-based property by New York Life Real Estate Investors to Hovercraft, LLC, a private real estate partnership. Home Depot assumed the lease in the early 2000s at the 119,000-square-foot building located at 1590 Canyon Del Rey Blvd. and immediately exercised all outstanding options, extending its term through 2032. The purchase price in the deal was not disclosed.

In another transaction in the Boston area, Savills Studley reports that Boston Irrigation Supply Company has sold 60 Stergis Way, a 20,000-square-foot flex asset located in Dedham, MA for $2.2 million. The building, occupied by John Deere Landscapes, was purchased by investor Fulcrum Real Estate Partners of Needham, MA. Steve Woodworth of Savills Studley's Boston office represented BISCO; the buyer was unrepresented.

New England-based BISCO sold their business operations to John Deere Landscapes in late 2014 with the intention of selling the property into a very robust investment sales market in early/mid 2015, according to Savills Studley.