7-Figure Deals That Closed Despite Recent Uncertainty
While recent uncertainty has caused the economy to take a hit, commercial real estate deals are still closing.
Below, we’ll cover four 7-figure deals that closed in March.
$1,450,000 Avison Young Single-Tenant Property Deal
On Friday, March 24, Avison Young announced it “completed the $1.45 million acquisition of an off-market single-tenant restaurant property occupied by Steak ‘N Shake located at 6208 Cambridge Way in Plainfield, IN.”
The article went on to state that “Avison Young Associate Matthew Spear and Principal Hayden Eaves who are both based in the company’s downtown Los Angeles office, represented the all-cash private buyer from Westlake Village, CA who was in a 1031 exchange. The seller was a private investor from Indiana.”
$2,575,000 Marcus & Millichap – Arizona Dental Office Deal
On Friday, March 24, Marcus & Millichap – Arizona announced they completed the sale of Pacific Dental.
JUST CLOSED: Pacific Dental | $2,575,000 | San Tan Valley, AZ | Exclusively Listed By Jamie Medress, Mark Ruble & Chris Lind#marcusmillichap #mmreis #commercialrealestate #cre #netlease #justclosed #justsold #netleaseinvestments #arizonacre pic.twitter.com/PMLtKXIsiU
— Marcus&Millichap AZ (@MMREIS_AZ) March 24, 2020
$4,050,000 Interra Realty Multifamily Deal
On Thursday, March 23, Interra Realty announced they brokered a 16-unit multifamily building.
JUST CLOSED | Interra Realty’s Joe Smazal Brokered a 16 Unit #multifamily building in a Strong Lakeview Location for $4,050,000#commercialrealestate #investor #property #sales #chicago #closings #cre #brokerage #interrarealty #realestate #housing #investments #buildings pic.twitter.com/ilS7riBoXB
— Interra Realty (@InterraRealty) March 23, 2020
$1,600,000 Quantum Real Estate Advisors Multi-Tenant Shopping Center Deal
On Wednesday, March 18, Connect Media reported that “Quantum Real Estate Advisors brokered the sale of a multi-tenant shopping center located at 1500 Essington Rd. in Joliet, IL. The property sold for $1,600,000.”
The article went on to state that “the property was fully-leased at the time of sale to a mix of local and national tenants. Quantum president Chad Firsel and SVP Dan Waszak represented the seller.”