8A — June 26 - July 16, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal
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R etail D evelopment R eimagined
Commercial sales comprise of three separate properties in coveted Maryland towns Cheema of Coldwell Banker Commercial NRT negotiates portfolio net lease sale for $18 million P a 1031 exchange exemplifies how we guide clients to suc- cess.”
Commercial The buildings include: • Chase Bank, Kensington - 3,500 s/f for $6 million. • CVS, Chester - 11,970 s/f for $6.475 million. • Walgreens, Glen Burnie - 14,650 s/f for $6.475 million. “Faraz successfully man- aged the acquisition of this portfolio during the current health crisis and changing economic environment,” said Dan Spiegel , vice president and managing director of Coldwell Banker Commercial. “His dedicated commitment to excellent client service dur- ing the limited time frame of
OTOMAC , MD — Co ldwe l l Banker Commercial repre- sented the buyer in the acqui- sition of several fully leased commercial properties within the state of Maryland. The properties collectively sold for $18.95 million. “This portfolio is a unique find in today’s market where absolute triple net assets are highly coveted and becoming more sought after by investors due to low risk and minimal day-to-day oversight other investments require.” – Faraz Cheema , investment sales specialist, Coldwell Banker
Marcus &Millichap arranges the $2.9 million sale of Dollar General multi-state portfolio Cheema represented a pri- vate family trust, the buyer of all three properties. MAREJ
© Coldwell Banker Commercial
CVS in Chester, MD
Dollar General
P I N E B L U F F , A R , BURNSVILLE, MS, AB- BEVILLE, MS — Marcus & Millichap announced the sale of a Dollar General multi-state portfolio. Each location con- sists of a 9,026 s/f net-leased property located in Pine Bluff, AR, Burnsville, MS and Ab - beville, MS. These assets sold for a combine sale price of $2,947,680. Michael Lombardi, Pat- rick Gray and Steven Schia- vello , investment specialists in Marcus &Millichap’s NJ of - fice along with ElizabethWil- liams , broker in the AR office and William Davis , broker in the Mississippi office, had the listing to market the property on behalf of the seller, a limited liability company. An offer, 98% of the asking price, was made within two days of suc- cessful marketing by the team and accepted by the seller. The Pine Bluff Dollar Gen - eral is located at 9209 Sulphur Springs Road in Pine Bluff, AR. The Abbeville Dollar General is located at 1038 MS-7 in Abbev - ille, MS. And the final location in this portfolio, the Burnsville Dollar General is located at 284 US Hwy. 72 in Burnsville, MS. In a seperate transaction, Marcus &Millichap announced the sale of Cranbury Rowe, a 10,100 s/f retail property located in Cranbury, NJ. The asset sold for $2,175,000. Alexander Pildes and Lom- bardi, investment specialists in Marcus &Millichap’s NJ office, had the listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by Pildes and Lombardi. MAREJ
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