Hanley Investments Brokers All-Cash Retail Sale

Jeff Lefko and Bill Asher, along with Dylan Mallory, arranged two deals in Kentucky and Tennessee.
2960 & 2964 Miller Place Way. Image courtesy of Hanley Investment Group

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.

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