Wednesday, 05 August 2026 09:15 AM
Company Update
Josh Ferrito Promoted to Vice President, Investment Sales Team Following $20 Million in 2026 Closed Volume
FORT LAUDERDALE, FL / ACCESS Newswire / August 5, 2026 / NX3 Commercial Group announced today the successful completion of an approximately $15 million, three-property 1031 exchange on behalf of a repeat California-based client. Josh Ferrito and Matt Wister of NX3 Commercial Group represented the buyer, sourcing and executing the acquisition of three net lease assets across Florida and Texas.
In connection with the closing, NX3 Commercial Group also announced the promotion of Josh Ferrito to Vice President, Investment Sales Team. Ferrito has closed seven transactions totaling more than $20 million in volume year-to-date in 2026.
The assignment was driven by the client's objective of repositioning capital out of California and into more tax-friendly, high-growth markets while transitioning into truly passive, hands-off real estate investments. Ferrito and Wister worked with the client to assemble a diversified portfolio spanning restaurant, healthcare, and drive-thru retail, with an emphasis on long-term leases, strong credit, contractual rent growth, and minimal landlord responsibilities.
"The client came to us with a clear mandate: get out of California, get into markets with better tax and growth fundamentals, and never take another landlord phone call," said Josh Ferrito, Vice President, Investment Sales Team at NX3 Commercial Group. "Running a three-property exchange on a 1031 timeline means every asset has to clear underwriting and close on schedule. We built the portfolio around credit, term, and contractual rent growth so the income holds up long after the exchange is complete."
Fogo de Chão | Katy, Texas
The Fogo de Chão acquisition represents an institutional-quality net lease investment located at the intersection of I-10 and the Grand Parkway in one of Houston's most affluent and rapidly growing suburban corridors. The property is subject to a long-term NNN lease with more than 13 years remaining and 10% rental increases every five years.
Fogo de Chão operates more than 100 locations globally and is backed by Bain Capital, which acquired the company in a $1.1 billion transaction in 2023. The asset also benefits from a location adjacent to Costco and exposure to more than 221,000 vehicles per day at the nearby I-10/SH-99 interchange.
Longview Regional Emergency Center | Longview, Texas
The Longview acquisition added a mission-critical healthcare asset with publicly traded corporate backing to the exchange. The property is leased to Longview Medical Center, L.P. and guaranteed by Community Health Systems, Inc. (NYSE: CYH), a national healthcare operator with 64 affiliated hospitals, more than 900 sites of care, and $12.5 billion in FY2025 revenue.
The freestanding emergency center features an absolute NNN lease with approximately 11.7 years remaining and no landlord responsibilities, providing the client with long-term income backed by a major national healthcare system.
Cali Coffee | Coconut Creek, Florida
The Cali Coffee acquisition provided exposure to a 2025-construction asset within a larger Sprouts-anchored development in the South Florida market. The drive-thru sits at Lyons Road and Coconut Creek Parkway and benefits from the surrounding retail development, strong traffic counts, and dense demographics.
The property features an absolute net lease with no landlord obligations, approximately 14 years of remaining term, and 10% rental increases every five years. The newly constructed prototype also carries a 20-year roof warranty, further supporting the passive nature of the investment.
Together, the three acquisitions allowed Ferrito and Wister to help their repeat client complete his 1031 exchange while upgrading into a diversified portfolio of passive net lease investments across Texas and Florida.
The transaction represents the latest assignment completed by Ferrito and Wister for the repeat client and highlights NX3 Commercial Group's ability to source, structure, and execute multi-property 1031 exchanges across markets while tailoring each acquisition to the client's long-term investment objectives.
"Josh earned this promotion on execution," said Robert Zahralban, Head of National Net Lease and co-owner of NX3 Commercial Group. "Seven closings and more than $20 million in volume so far this year, with repeat clients coming back for the next assignment. That is the business we are building here."
"Multi-property exchanges are where brokerage gets tested, and this one closed clean across two states," said Luke Thomson, President, co-owner and qualifying broker of NX3 Commercial Group. "Josh and Matt handled it the way we expect our team to handle every assignment, and the client's results speak for themselves."
About NX3 Commercial Group
NX3 Commercial Group LLC is a national net lease investment sales brokerage headquartered in Fort Lauderdale, Florida. The firm advises private capital, family office, and 1031 exchange clients on the acquisition and disposition of single-tenant and multi-tenant net leased real estate nationwide.
Contact NX3 Commercial Group LLC 500 E Broward Blvd, Suite 920 Fort Lauderdale, FL 33394
https://nx3commercialgroup.com/
Disclaimer: Josh Ferrito is a licensed Florida Real Estate Sales Associate with NX3 Commercial Group LLC, a licensed Florida real estate brokerage. "Vice President, Investment Sales Team" is an internal team designation and does not denote an officer or ownership position with the brokerage. Transaction details are for informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy.
SOURCE: NX3 Commercial Group LLC