SVN Arranges Sale of Net Leased Investment Property in Commerce Township, Michigan
Robert J. Pliska, CRE, CPA Owner/Managing Director, SVN Property Investment Associates, LLC and Vic Voinovich, Managing Director, SVN / First Place Commercial Realty arrange sale of a Rite Aid Investment Property in Commerce Township, Michigan
BIRMINGHAM, MI –
January 5, 2017 – Robert J. Pliska, CRE, CPA, Owner/Managing Director, SVN| Property Investment Associates, LLC and Vic Voinovich, Managing Director, SVN/First Place Commercial Realty arranged a sale of a 10,668 square foot Rite Aid net leased investment property for $2,150,000 in Commerce Township, Michigan currently subleased to a Dollar Tree. Purchaser, C1 Investments, are local developers/investors with retail properties in the Michigan market. Seller was a non-profit organization who owned the property for many years by receiving the property as a donation to their organization. The property was on a highly visible corner with good traffic count and great access. It was sold at a 11.9 cap rate. A great win/win was created between buyer and seller
Commerce Township, Michigan is a western suburb of Detroit, Michigan – about a 40 minute drive from downtown Detroit. There has been a large increase in population in the last few years due to its many lakes and golf courses. The northern terminus of M-5 is in Commerce Township.
About Sperry Van Ness International Corporation and SVN Property Investment Associates, LLC
Sperry Van Ness International Corp., a full-service commercial real estate franchisor of the SVN brand, is one of the industry’s most recognized names based on the annual Lipsey Top Brand Survey. With nearly 200 locations serving 500 markets, SVN provides sales, leasing, consulting, financing and property management services to more than 5,500 clients worldwide. SVN Associates also represent clients in office, retail, industrial, multifamily, hospitality, land, medical, golf & resort, auctions services, charter schools, distressed real estate and single tenant investments. All SVN offices are independently owned and operated. For more information, visit http://www.svn.com and http://www.propinvadv.com.
Robert J. Pliska, CRE, CPA
SVN (Sperry Van Ness) Property Investment Associates, LLC