ARLINGTON, Tex.– CBRE Group Inc. has arranged the sale of 459 East Interstate 20 in Arlington for approximately $13 million. The 52,000-square-foot retail space is occupied by Gander Mountain under an absolute triple-net lease with a 15-year term.
“This transaction is a prime example of how New York City buyers are more than willing to put their money into out-of-state NNN-leased properties in exchange for guaranteed positive returns," Elli Klapper, with CBRE's New York Tri-State Investment Properties team, told GlobeSt.com.
CBRE's Maurice Nieman and Ian Schroeder of the Newport Beach, Calif. office represented the seller, and along with Charles Berger and Klapper of CBRE's New York Tri-State Investment Properties, procured the buyer in the 1031 exchange transaction. In addition, CBRE's Debt & Structured Finance team was able to finance the transaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
