March 26, 2013
Ackerman & Co. Sells Two Net-leased Drugstores for 5.5 MM
Atlanta, March, 26, 2013 – Ackerman & Co., fast becoming a market leader in the sale of retail properties in the Southeast, announced today that it has brokered the sale of two net-leased retail properties.
The first is a 9,800-square-foot, single-tenant, net-leased CVS in Kaplan, La. for $2,429,303. The store, located near Lafayette and in the heart of Kaplan’s retail corridor, was built in late 2006 and features CVS’ newer store model prototype. The Ackerman & Co. investment sales team of Sean Patrick and Jason Powell represented the seller, a California family trust. The property was purchased by a private investor in Pennsylvania. The zero cash flow transaction required minimal equity.
Earlier in the month, the company also brokered the sale of another net-leased property – this time a 14,420-square-foot, single-tenant, Walgreens for $3,117,728. The property is located in the affluent market of the Phoenix (Peoria), Ariz. MSA. Ackerman & Co. Vice Presidents of Investment Sales Sean Patrick and Jason Powell represented the seller – CSH Peoria AZ, LLC, a San Francisco-based developer. The property was purchased by publicly traded REIT AR Capital, LLC. They were represented by The Kase Group.
– About Ackerman & Co. –
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 30 million square feet of office, medical, retail and mixed-use space, has nearly 4 million square feet under management, and maintains an investment portfolio valued at $750 million.
The company’s Investment Sales and Retail team provide unsurpassed institutional underwriting and marketing that ensure optimum financial results. Our clients trust us with more than $300 million of active listings.
For more information on Ackerman & Co., visit www.ackermanco.com