Phillip Mazaheri, CCIM handles Sale of $5,200,000 Retail Investment Shopping Center in Oklahoma City
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Cornerstone Crossing in Oklahoma City is a 73,791 square foot retail neighborhood strip center situated on 6.15 acres. The property is located on the south west corner of NW 39th Expressway and MacArthur Boulevard nearby Southern Nazarene College. The property was sold at 92% occupancy for $5,200,000 or $70.47/sf with a CAP Rate of 10%. Phillip Mazaheri, CCIM handled the transaction for the Buyer Cornerstone Crossing, LLC initially in 2016 when it was purchased for $3,200,000. Less than four years later with some lease up, Mazaheri handled the Sale to Cornerstone One, LLC, a Buyer out of Kansas City, Missouri.
Phillip Mazaheri, CCIM Sales Moore Retail Investment Center for $6,050,000
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The Exchange on 19th is a 13,375 square foot strip center built in 2016 situated on 1.76 acres. The property is an outparcel for Winco Foods and is located directly across from Super Target, Burlington, Dick’s Sporting Goods and Home Depot in Moore, Oklahoma. The Exchange on 19th was purchased at 100% occupancy with 54% of the tenants being corporately guaranteed, which includes Chipotle, Visionworks and Mercy GoHeath Urgent Care. The property was purchased at a 7.56% CAP rate with the majority of leases being on ten year primary terms. Phillip Mazaheri, CCIM represented the local Buyer Hartford Capital, LLC who paid $6,050,000 to the Seller/Developer Armstrong 19 Moore Development, LLC.
Local Buyer Purchases Moore Strip Center for $4,275,000
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Berkshire Developments, LLC purchased a 7,514 SF strip center in Fritts Farm from Moore Retail Management, LLC. Fritts Farm is a major retail center in Moore, Oklahoma anchored by a Super Target. The outparcel strip center is anchored by corporate leases with Helzberg Diamonds and Pacific Dental. The sales price equated to a 7% capitalization rate with all leases on 10-year primary terms. Phillip Mazaheri, CCIM represented the buyer in the transaction.
Retail Investment Team Announces Sale of $9,600,000 Sale of Casady Square Shopping Center
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The Price Edwards Retail Investment Team is proud to announce the sale of Casady Square in The Village, Oklahoma. GRP Investments Investments, LLC purchased the property from MVP Casady, LLC for $9,600,000. The shopping center consists of 136,772 square feet situated on 8.43 acres of land. Casady sold for $70.19/SF at an 8.51% CAP rate.
Paul Ravencraft, Phillip Mazaheri, CCIM and George Williams, CCIM with Price Edwards Retail Investment Team handled the transaction.
Retail Investment Team Brokers $3,095,000 Sale Of Townesouth Plaza Shopping Center
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The Price Edwards Retail Investment Team is proud to announce the sale of Townesouth Plaza in Oklahoma City, Oklahoma. Kona Capital Investments, LLC purchased the property from Midland Capital, LLC for $3,095,000. The retail restaurant consists of 15,882 square feet situated on 2.18 acres of land.
Paul Ravencraft, Phillip Mazaheri, CCIM and George Williams, CCIM with Price Edwards Retail Investment Team handled the transaction.
Retail Investment Team - JUST LISTED - Casady Square Neighborhood Shopping Center
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N. Pennsylvania & Britton Road
Casady Square consist of 136,772 square feet of retail situated on 8.43 acres of land. The tenant mix includes local and national tenants, most being well known local long-term destination shops. Casady Square is currently 85% occupied with notable tenants such as: T-Mobile, Nuvo Home, 1492, Fitness 19, Farmers Insurance, No Regrets and New Leaf Florist. National Retailers in the area include: Walmart Neighborhood Market, Bank of Oklahoma, Walgreens, CVS, Church's Chicken, Arby's and Little Caesars Pizza.
- Sale Price: $9,500,000
- Price / SF: $69.46
- Cap Rate: 8.62%
- NOI: $819,151
- Building Size: 136,772
- Occupancy: 85%
- Lot Size: 8.43 Acres
- Year Built: 1956
- Renovated: 1973
- Market: Oklahoma City
- Submarket: North/The Village
Riverwalk Centre Sold for $5,150,000 - Retail Investment Team Handled Both Sides of the Transaction
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Article via The Journal Record by Molly Fleming - http://journalrecord.com/2018/08/03/riverwalk-centre-sold-for-5-15-million/
MOORE – A shopping center in a popular area has traded hands and will soon have a new tenant.
Dallas-area-based Riverwalk Centre LLC, led by Tommy Dreiling and his business partner Todd Rouse, purchased the 78,127-square-foot Riverwalk Centre, 2712 S. Telephone Rd. in Moore, for $5.15 million, or $65 per square foot.
This is the group’s first purchase in Oklahoma, though Dreiling has been in real estate development for more than 20 years.
Price Edwards & Co.’s Retail Investment Team handled the transaction. Paul Ravencraft, Phillip Mazaheri, and George Williams make up the team.
Ravencraft said the center had gone through a foreclosure. Price Edwards listed it in September 2017, and the sale closed July 12. He said the team received about 10 offers on the property, with people interested inside and outside the state.
The center is anchored by the vacant 60,000-square-foot Gordmans space. Gordmans declared bankruptcy in March 2017 and closed all its stores. Having this large space could have made the sale a challenge, Ravencraft said.
“The market for a buyer with a 60,000-square-foot anchor space was pretty tough,” he said. “The difficult thing is that just about every big-box tenant was already there. There wasn’t a lot to pick from.”
But there’s not an Urban Air multi-entertainment center, which is what Dreiling will bring to the center. He’s a franchisee for the concept. He’ll be putting the Urban Air into the former Gordmans space. It will be one of the largest Urban Airs in the country, he said.
Since Dreiling had the entertainment venue in his pocket, buying the center was a win-win. He said the Urban Air will offer more than trampolines. It will have go-carts, laser tag, bumper cars, a sky ride where children can get harnessed from the ceiling, and warrior courses, like seen on the television show American Ninja Warrior.
“This is a trampoline park on steroids,” he said.
Dreiling said he expects to revitalize the entire center, especially when the anchor Urban Air opens. He said he hopes to have it open by Thanksgiving, but realistically it will be by year’s end.
He said the Moore area is attractive because of the growth in the school district and the surrounding homes’ median incomes.
“We like the possibilities,” he said. “We feel like the Moore City Council and Moore as a whole are very economic-development friendly. They have been one of the most helpful cities so far. These guys really want us there.”
Dreiling is planning to put another Urban Air in Oklahoma City and has the franchise rights to a site in Columbia, South Carolina, and Southern California.
Retail Investment Team Represents Local Investor in Trophy Power Center Sale for $43,500,000
/Quail Springs Marketplace
SW/Corner of Memorial and Penn
Allen Gann, a local energy and real estate investor, acquired Quail Springs Market Place located at the southwest corner of Memorial Road and Pennsylvania Avenue. Located in the heart of Oklahoma City’s leading retail corridor, the 293,788 square foot power center situated on 28.53 acres sold for $43,500,000 or $148 per square foot. A number of institutional investors are leaving the Oklahoma City retail market which is creating opportunities for local investors to buy trophy properties. Quail Springs Marketplace is a prime example, last selling for $47.6 million in 2005. The property is home to a number of leading retailers, both national and local, including Ross, Michaels, Ulta, Golf Galaxy, Akins and Metro Shoe Warehouse among others. The Memorial Road Corridor is the bell cow of Oklahoma City retail; it leads the market both in the total retail square footage and in retail demand. Price Edwards & Company Retail Investment Team consisting of Paul Ravencraft, Phillip Mazaheri and George Williams represented buyer in the transaction. Chicago Title handled the closing and financing was provided by Midfirst Bank.
Retail Investment Team - JUST LISTED - Edmond Shopping Center
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1427 S. Broadway, Edmond, OK
Berkshire Plaza is anchored by Office Depot. The center is located near several national tenants including Home Depot, Starbucks, Academy Outdoor Sports, Verizon and Petsmart. Office Depot recently renewed their lease for 10 additional year until 2025.
- Sale Price: Subject To Offer
- NOI: $314,151
- Lot Size: 3.07 Acres
- Year Built: 2000
- Building Size: 35,612 SF
- Zoning: Commercial
- Submarket: Edmond
- Located in the Heart of Edmond
- Anchored by Office Depot
- High traffic intersection
- Located in Oklahoma's most desirable market, Edmond
- Two miles from Interstate 35
- University of Central Oklahoma and Oklahoma Christian University nearby
HOW DOES THE NEW TAX BILL TAX IMPACT COMMERCIAL REAL ESTATE?
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The Tax Cut and Jobs Act that recently passed is the most sweeping tax reform since the Reagan administration. The legislation will impact everyone, some will reap more benefits than others.
On a range of points, commercial real estate will see positive benefits under the new law. Let’s review a few of the changes that have the potential to fuel commercial real estate.
Pass-Through Entities
Pass-through entities such as partnerships and limited liability companies are set to benefit significantly from the new law. These are companies that do not pay direct corporate tax, but instead “pass through” their gains and losses to the individual members of the company or partnership. Under the new law, investors in pass-through entities will benefit from a new 20% deduction.
Real estate investment is almost always conducted through such entities. Owners of pass-through entities may be eligible to claim a 20 percent deduction for business-related income. For example, if an LLP owns a commercial building that provides $200,000 in annual income to its investor partners, those individual investors could avoid paying taxes on $40,000 of that income if they are eligible for the full 20 percent deduction.
1031 Exchanges
1031 exchanges allow you to exchange like-kind property and roll your gain forward without having to pay tax. This provision remains mostly unchanged except for one modification.
The new rules modified 1031 exchanges to include only real property. That exclusion will have a negative tax impact on real estate assets that also contain a high amount of personal property, such as restaurants that have significant value tied up in the furniture, fixtures, and equipment. Previously, those companies were able to exchange the full amount.
Tax Brackets
The tax plan lowers most individual tax rates and increases the standard deduction.
In 2017, for a married couple the brackets were:
-10% (taxable income up to $18,650)
-15% ($18,650 to $75,900)
-25% ($75,900 to $153,100)
-28% ($153,100 to $233,350)
-33% ($233,350 to $416,700)
-35% ($416,700 to $470,700)
-39.6% (taxable income over $470,700)
Under the new plan they would be:
-10% (taxable income up to $19,050)
-12% ($19,050 to $77,400)
-22% ($77,400 to $165,000)
-24% ($165,000 to $315,000)
-32% ($315,000 to $400,000)
-35% ($400,000 to $600,000)
-37% (taxable income over $600,000)
Overall many of the provisions passed will have a positive impact on tax savings for investors, allowing them to keep more of their earned income. Another factor that could impact real estate includes the “tax holiday” that allows corporations to repatriate some of the trillions of dollars that are held outside the U.S. with a significantly smaller tax penalty. This may very well drive demand in many areas if that cash is invested back into the economy as expected. Lastly, most Americans should see some tax savings from the above rate reductions, 401k increases, and hopefully higher wages and bonuses. This means more money for retail goods and services that will drive up consumer spending and boost the economy.
With any legislation this size, it will take time to determine the net effect but initial analysis appears promising for economic and job growth that will, in turn, drive demand for commercial real estate.
Paul Ravencraft, George Williams CCIM, Phillip Mazaheri, CCIM
Retail Investment Team
Retail Investment Team Lists Bank Owned Shopping Center in Moore, Oklahoma
/Riverwalk Centre - Moore, Oklahoma
2712 S. Telephone Road, Moore, OK
Property Website
- Sale Price: Subject To Offer
- Financials: Avaliable Upon Request
- Lot Size: 8.56 Acres
- Year Built: 2004
- Building Size: 78,127
- Market: Oklahoma City Metro
- Submarket: Moore
- Traffic Count: 109,400
Riverwalk Centre is a Community Shopping Center consisting of 78,127 square feet of retail with mixed small shop and big box stores. The property has major upside potential when leased-up with 13.59% of the property being occupied. Riverwalk is currently bank-owned with the property being marketed by The Retail Investment Team.
Retail Investment Team - JUST LISTED Olympia Plaza - Retail Investment Property in Oklahoma City
/Olympia Plaza- Retail Investment For Sale
7202-7212 West Hefner Road, Oklahoma City, OK
Property Website
- Asking Price: $2,475,000
- Price Per SF: $71.45
- NOI: $219,373
- CAP: 8.86%
- Building Size: 34,640 SF
- Submarket: Northwest Oklahoma City
Olympia Plaza is anchored by Dynamo Gymnastics and TRU YOU Fitness who occupies 72.5% of the center. The property is 100% leased located near Hefner and Rockwell, a booming retail intersection in northwest Oklahoma City. Olympia Plaza is surround by the following retailers: Crest Foods, MidFirst Bank, Jimmy's Egg, Great Clips, Deaconess Physicians, Walgreens, Subway, Taco Bell and Bank of Oklahoma.
Retail Investment Team Brokers $6,900,000 Sale of Academy Sports & Life Church Big Box Retail Center
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The Price Edwards Retail Investment Team is proud to announce the sale of Academy Sports & Life Church Big Box Retail Center. Ali Ghaniabadi, doing business as Brady's Plaza, LLC, purchased the property from Walker 78 Company, out of state owners from New York City. The center is a 105,920 square foot center sold at 100% occupancy with a stable rent roll.
Academy Sports & Life Church Shopping Center was sold on September 22nd, 2017 to Brady's Properties at a per square foot price of $65.14. The property was recently renovated in 2015 and sold at a 9.16% CAP Rate.
Paul Ravencraft, Phillip Mazaheri, CCIM and George Williams with Price Edwards Retail Investment Team handled both sides of the transaction.
Price Edwards Named Best Commercial Real Estate Firm by Journal Record Reader Rankings
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Price Edwards & Company is proud to have been chosen as the Best Commerical Real Estate Firm, and the Best Commercial Real Estate Leasing Firm by the Journal Record Reader Rankings!
"We're honored for this recognition," says Managing Partner, Ford Price. "Working to provide the best service and value to our clients is the backbone of what we do here, and this is a great compliment to our staff who work so hard." The Journal Record’s Reader Rankings are chosen by Journal Record readers across a wide variety of categories encompassing the areas of construction and design, entertainment, finance/accounting, general business, health care, higher education, hospitality, legal services, real estate and information technology.
Based in Oklahoma City, Price Edwards & Company is the largest commercial real estate firm in Oklahoma and has been serving clients since 1988. PEC also has an office in Tulsa and has expanded In recent years at the request of clients to serve other commercial real estate markets including Texas, Kansas, Missouri, Arkansas, and Mississippi.
The Journal Record published the list of Reader Rankings on August 24th. For the complete list of Reader Rankings, click here.
OKLAHOMA CITY RETAIL PROPERTY MID-YEAR 2017 MARKET TRENDS
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Numbers matter in real estate; this survey is built on the premise that numbers matter. But, in this instance, the numbers do not begin to convey the scale of change in the retail industry nor do they reveal the anxiety that underlies the market.
Overall market vacancy improved during the first six months of the year to 9.8 percent from 10.6 percent at year-end. That implies a relatively healthy and improving market. And there is a lot out there to be pleased about. The general economy is still holding up even with continued low energy prices. There are a lot of tenants expanding; most space that has been vacated to date has been backfilled. The market saw positive absorption of nearly 600,000 square feet. Rents, particularly for new space, are at all time highs. If only we could stop there. The good news has a dark backdrop. Over 5,000 stores closed so far nationally in 2017 and more on the way. Negligible income growth locally. Local tenant struggles. Fierce competition from internet retailers.
So, where does that leave us. Are we in a normal cycle or is it the end of retail as we know it? The truth, as it often does, lies in between. We see three broad influences in the retail market: One, retailers are forgetting how to retail. The best retailers have always been good at staying in contact with their customers. A big part of which is understanding them well enough to know what they want in terms of merchandise and how to best sell it to them. In today’s world of big data, that should be easy enough, but many of the problem retailers have failed their customers. Does anyone think Gordman’s, Radio Shack or Payless has done a good job of this? Two, competition from the internet is real and unremitting – which really means that Amazon is coming for you. But, as we’ve discussed before, this is much more nuanced than internet versus brick & mortar. The two are morphing together…Amazon and other internet retailers are opening brick & mortar stores (and need them to reach more customers and raise margins) while, at the same time, brick & mortar stores are racing to enhance their web presence both in terms of sales and marketing. This dynamic is changing the way people shop. Virtually everyone browses on the internet, regardless of where they end up buying a product. Convenience and price have increased importance; the experience is more important. Three, we are in the middle of a normal real estate cycle. Retail has been growing rapidly since the 2009 – 2010 recession. Rents and occupancies are up and there has been significant new construction. It is time for a correction. A correction always involves store closures and reduced tenant activity; the amount of leveraged buyouts over the last 10 years has exacerbated this problem by limiting retailers margin of error in a downturn.
You add these three major influences together and you can begin to understand the level of disruption we are seeing today. We believe it will most likely take another 2 – 3 years to sort out and somewhat normalize the retail market. In the meantime, the market will be very uneven with some retailers doing well and others struggling or going out of business. Clear winners in the interim will be value-oriented tenants, health/personal fitness tenants, and tenants who figure out how to enhance the shopping experience. Tenants that are expected to struggle include fashion tenants, boutiques, and department stores. Then there will be certain classes of tenants – service & grocery for example – that will see less of an effect from current changes. Here is a look at how we expect a few specific sectors of the market will fare in this environment:
Locals
One group of tenants getting caught in the retail crossfire is local tenants. This group is always prone to greater swings in performance given consumer sentiment, changes in disposable income, etc. All the current bad news (you don’t hear much of the good news) has created an environment where many are being more conservative and shoppers are more value driven. Most local tenants have less flexibility in this environment with staffing, inventory management and marketing. Add higher rents, particularly in infill locations, and many local tenants are getting squeezed.
Rents
Oklahoma City has historically had some of the lower retail rents in the country. That has changed in the last5 to 7 years, particularly with new development, out-parcels in front of big boxes and mixed use developments. Rents for small shop space in these developments range from $25 to $35 per square foot with some rents pushing $40 per square foot. This often prices out local tenants. It also raises the question whether or not national tenants can generate the sales to justify these rents over time. Our sense is that they can but it is probably a pretty thin segment of the market. It will also test our market when some of these spaces come back to the market as second generation space.
Development
Two significant new developments came on line in 2016, The Market at Czech Hall anchored by Ross and Academy and Sooner Rose in Midwest City anchored by Academy and Hobby Lobby. Expect the uncertainty in the market to put most larger development on hold for now. There will continue to be some strip center development and the expansion of existing centers, but limited large-scale construction.
Grocery
Oklahoma City has seen nearly 1.5 million square feet of grocery added in the last three years led by Walmart, but also Aldi, Natural Grocers, and Sprouts. Add four new 90,000 square foot Winco’s to that equation and a new Edmond Crest and that’s a lot of additional grocery square footage. We saw the results of this with Homeland & Buy for Less each closing two stores in 2016. We expect to see fewer new stores this year as the market adjusts but the pressure will be on the weaker chains.
Movies
The movie business is about to change in a big way in Oklahoma City primarily from the change in state statute allowing the sale of liquor in theaters. Warren, who sold their existing Moore theater to Regal, has announced a north Eastern and a Midwest City location. Flix is poised to enter our market. Expect Alamo Draft House or similar concepts to follow. This will put pressure on many of the existing theaters to upgrade. All-in-all, the next few years should be a boon to movie-goers and a source of growth for retail.
Survey Footnote:
Our survey tracks 29.8 million square feet in 255 buildings of over 25,000 square feet and 15.3 million square feet of stand-alone buildings for a total market of 45.1 million square feet.
There continues to be a significant number of smaller strip centers in the market (under 25,000 s.f. in size). We would estimate there are close to 5.7 million square feet of these properties in the market.
Shoppes at Quail Springs progressing in north Oklahoma City→
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News article via The Oklahoman - http://newsok.com/article/5558112
A commercial retail and office project being built at the corner of May Avenue and Memorial Road has a lot going for it, a broker says.
"The best thing about this location is it's right off Memorial and close to Quail Springs," said George Williams, a retail leasing specialist with Price Edwards & Co., the broker for the Shoppes at Quail Springs, 13601 N May Ave.
"The traffic count is really high, and there are a lot of rooftops, both single family and multifamily, and higher-end neighborhoods.
"What retailers want are locations that have high traffic counts and high-density populations with high household incomes. And this location is one of the best locations in the metro."
Phillip Mazaheri, also a Price Edwards & Co. retail specialist, said the project is being developed by his father's company, Mazaheri Properties.
Phillip Mazaheri said his father, Fred, obtained the property 13 years ago, and started the process of building the Shoppes at Quail Springs a couple of years ago.
Even Phillip Mazaheri said he is impressed by the project's visibility, now that it's nearing completion.
"Seeing renderings is one thing," he said. "But once it started to go up, it really came to life. You can see it from across the way, and from the (John Kilpatrick) turnpike. That's pretty exciting."
Phillip Mazaheri said another aspect of the project he believes its customers will love is its landscaping.
"The developer went above and beyond what was required. The tenants will enjoy that as well."
Upstairs, downstairs
An interesting aspect to the Shoppes at Quail Springs is that it is a mix of both retail and, upstairs over much of the project, 23,000 square feet of office space.
While some of that is set aside for use by Mazaheri Properties and a law firm, much of it still remains available for lease.
It offers interesting views of the turnpike and May Avenue corridors, and also will give tenants excellent exposure to passing motorists each day. The upstairs space is accessible using elevators and stairs that can be accessed from entrances nestled between commercial spaces on the project's street level.
On Thursday, the management team at Salata, a restaurant that will open next month in a part of the project that faces May, had to turn away a trio of customers who had just happened to have seen its sign from the street and had hoped to grab a salad for lunch.
Currently, The Ambassador Shop, a men's clothing store, and Salons by JC are the only open commercial businesses in the project. But that is going to begin to change, as Salata and other businesses begin to open there later this year.
Phillip Mazaheri said the developer is pleased with progress of leasing efforts, so far.
"This is a long-term investment for him, he's wanting the best mix possible," he said. "We have gotten plenty of interest on the property."
Other businesses that will be opening soon include a restaurant that will feature a new Japanese food concept, a Vietnamese restaurant, a nail salon, and, if negotiations are successful, a bank.
In all, the Shoppes at Quail Springs offers 50,000 square feet of commercial space at its street level.
Laura Gilliam, a licensed aesthetician, said she moved into a spot inside Salons by JC in May from an Edmond location. Gilliam said Salons by JC is doing very well, with only a few individual salon spaces still available.
She said her clients like the Shoppes of Quail Springs as well, because it isn't hard to get in and out of like some locations are.
"I've been doing this for 17 years," Gilliam said. "This is the happiest I've ever been."
Retail Investment Team Brokers $715,000 Sale in Edmond, Oklahoma→
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The Price Edwards Retail Investment Team is proud to announce the sale of Fairhill Shopping Center. The center is a 8,800 square foot center sold at 56.82% occupancy. Fairhill Center was sold two months after signing the listing agreement. Due to the marketing efforts of the Retail Investment Team, the Seller was able to gain $365,000 from purchasing the property 2.5 years ago.
Fairhill Shopping Center was sold on July 28th, 2017 to ZD Management, LLC at a per square foot price of $81.25. ZD Management is an owner/user who plans to occupy at least 50% of the building.
Price Edwards Retail Investment Team handled both sides of the transaction.
Price Edwards Retail Investment Team Announces Second Quarter Market Statistics
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Retail investment sales were quiet in the second quarter with one big exception, The Outlet Resource Group's $128.6 million purchase of the Outlet Shoppes of Oklahoma City. Re-branded OKC Outlets, the property is a specialty use property that is the only outlet mall in Oklahoma City. TORG plans to make some improvements to the mall and continue to tweak the tenant mix. The only other sale of a greater than 25,000 square foot property in the quarter was the 31,200 square foot, Willow Creek. Otherwise, the uncertainty that characterizes the broader retail economy appears to have also affected investment sales. There remain significantly more buyers in the market than sellers. As part of a countrywide trend, one group of buyers, the larger institutional real estate firms, have generally not bid on the last couple of institutional grade properties in our market, resulting in an at least 100 basis point increase in capitalization rates for class A properties. This trend may open the door for more local and regional investors to buy up in quality. Expect the current turbulence retailers are experiencing to create opportunities for these retail investors.
Retail Investment Team Brokers $1,456,000 Sale of Midwest City Retail Center→
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The Price Edwards Retail Investment Team is proud to annouce the sale of Village Oak Shopping Center. The center is a 25,983 square foot neighborhood center sold at 84.40% occupancy (no value given to vacancy) with a stable rent roll, including 75% of the tenants in the renewal periods. Village Oak is anchored by Lupe's Restaurant who has been at the center since 2006.
Village Oak Shopping Center was sold on July 13th, 2017 to Nicholas Investment Company at a per square foot price of $56.04. The property was recently renovated in 2016 and sold at a 9.94% CAP Rate.
Price Edwards Retail Investment Team handled both sides of the transaction.
