WILKES-BARRE, PA—Madison Hawk, which specializes in Structured Accelerated Sales and Capital Market Solutions, is hawking a portfolio of ten retail properties in well-trafficked locations in the heart of the main commercial corridor in Wilkes-Barre, PA.
The firm is conducting a sealed bid auction for four long-term net-leased properties and six short-term leased parcels with redevelopment opportunities. The properties are leased by excellent credit tenants including Sheetz and Pep Boy's as well as a ground lease on a property improved with a Walgreens and Popeye's. Net operating income on the properties range from $30,000 to $180,000 with the net operating income for the total portfolio above $900,000. In addition to the buildings, a portfolio of 11 billboards leased to Lamar Advertising is included.
The flexible auction will allow prospective purchasers to bid on either the entire portfolio or one of the ten individual parcels, says Jeff Hubbard, president of Madison Hawk. All of the properties will be transferred free and clear of debt with clean titles.
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