Sperry Van Ness / Property Investment Associates, LLC Arranges $6.4 Million Sale of Net Leased Investment
Robert J. Pliska, CRE, CPA, MBA , Sperry Van Ness / Property Investment Associates, LLC arranges $6.4 Million Sale of a 50,000 Square Foot Grocery Store in Chelsea, Michigan
BIRMINGHAM, MI – March 1, 2014 – Robert J. Pliska, CRE, CPA, Managing Director, Sperry Van Ness / Property Investment Associates, LLC arranges a $6.4 million sale of the 50,000 square foot Polly’s Country Market in Chelsea, Michigan, a regional grocery store in the area. The sales price equates to an 8 cap rate at $128 per square foot on this net leased property. Purchaser, Marsolin Holdings, LLC, is a local investor completing a Sec 1031 tax free exchange. The grocery store is on a long term lease with the new owner. Seller, represented by Robert Pliska, CRE of Sperry Van Ness/Property Investment Associates, LLC, is a trust from Pontiac, Michigan.
Chelsea, Michigan is a very charming city just west of Ann Arbor, Michigan off of I-94 – the Detroit/ Chicago expressway. Chelsea is an upscale community with good demographics and has such diversified industries as Chrysler, Jiffy Mix, healthcare and is the home of actor Jeff Daniels and his Purple Rose Theater.
About Sperry Van Ness International Corporation and Sperry Van Ness / Property Investment Associates, LLC
Sperry Van Ness International Corporation (www.svn.com), a commercial real estate franchisor, is one of the commercial real estate’s most recognizable brands, based on the annual Lipsey Survey. The Sperry Van Ness organization includes more than 180 locations in 36 markets. With headquarters in Irvine, CA, Sperry Van Ness commercial real estate associates provide brokerage, tenant representation, consultation, asset management, property management, leasing accelerated marketing and auctions services. Sperry Van Ness associates represent clients in office, multifamily, retail, industrial self-storage, hospitality, marina and land transactions. All Sperry Van Ness offices are independently owned and operated. Sperry Van Ness / Property Investment Associates, LLC (www.propinvadv.com) is an independently owned and operated office of Sperry Van Ness International Corporation.
Robert J. Pliska, CRE, CPA, MBA
Sperry Van Ness / Property Investment Associates, LLC