Hanley Investments Brokers All-Cash Retail Sale
- May 12, 2020
Hanley Investment Group has finalized the disposition of two retail properties totaling 14,347 square feet in Knoxville, Tenn., and Somerset, Ky.
A private investor acquired both assets for $7 million in an all-cash transaction. Executive Vice Presidents Jeff Lefko and Bill Asher, along with Associate Dylan Mallory, assisted the two sellers.
The Knoxville property sits on a one-acre lot at 2960 & 2964 Miller Place Way. The 7,500-square-foot building came online in 2015. Aspen Dental and Visionworks fully occupy the property on a triple net-lease. Lefko and Asher negotiated on behalf of the seller, a private investor. The asset changed hands for $4.3 million.
Located on a one-acre parcel at 2007 S. Highway 27, the Somerset asset is a 6,847-square-foot property completed in 2015. The building is fully occupied by VIsionworks, Kay Jewelers and GNC on a triple net-lease. Mallory arranged the deal on behalf of Thompson Thrift Retail Group, which sold the asset for $2.6 million.
In April, Lefko and Asher represented TOLD Development Co. in the $2.7 million disposition of a 4,370-square-foot Bank of America building in Brooklyn Center, Minn.