NORFOLK, VA (January 2021): SLN Capital Markets, a division of S.L. Nusbaum Realty Co., completed the sale of four separate outparcels to four different buyers at the Greenbrier Square Shopping Center in Chesapeake, VA. All of the transactions occurred within a few months after they hit the market, showing the continuing high demand for single tenant net leased assets.

“All of these deals had a few things in common.  They were leased to national tenants with strong guarantors, long lease terms in place and they were located in a top shopping center off the interstate,” said Doug Aronson, Senior Managing Director of SLN Capital Markets who represented the sellers.   “Buyers are flocking to safety and are willing to pay for peace of mind.”

Aronson generated multiple offers on each of the assets:  an Arby’s, Popeyes, Starbucks and Kroger Fuel Center.   All of them sit at or near the entrance to a shopping center anchored by Kroger, Dick’s Sporting Goods, Field & Stream, WoodSpring Hotel and other national and regional tenants.  Sales prices ranged from $1,500,000-$2,025,000, with cap rates ranging between 4.94%-5.30%

With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides brokerage services for shopping centers, apartment communities, office, industrial, land and investment properties throughout the Mid-Atlantic. For more information, visit: www.slnusbaum.com.

 

RICHMOND, VA (January 2021): S.L. Nusbaum Realty Co. is pleased to announce the sale of GreenGate Medical Office Building at 3400 Haydenpark Lane in Richmond, VA. The property was purchased by Montecito Medical Real Estate.

Nathan Shor and Reid Cardon of S.L. Nusbaum Realty Co.’s Richmond office and Chris Zarpas and Chris Devine of the Norfolk office facilitated the transaction.

The  approximately 45,000 square foot, Class A, medical office building was built in 2018 and is located within GreenGate, a 75-acre, mixed-use development comprised of townhomes and single family residences, commercial office buildings and a variety of retailers in the prominent Short Pump submarket.

Current tenants in the building include Tuckahoe Orthopedics, VCU Health, Partner MD, River Run Dental, Richmond Virginia Orthodontics and East Coast Endodontics.

“S.L. Nusbaum Realty Co. was honored to be a part of this sale and to facilitate the transaction between the Buyer and Seller. Whenever any of our clients, whether the buyer, the seller, or both as in this case, walk away from the closing table satisfied, we are satisfied,” said Nathan Shor, Senior Vice President, Regional Director, S.L. Nusbaum Realty Co.

For more information, please contact: Nathan Shor, 804.944.2399, [email protected].

 

With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides brokerage services for shopping centers, apartment communities, office, industrial, land and investment properties throughout the Mid-Atlantic. For more information, visit: www.slnusbaum.com.