EMG SELLS TWO LEXINGTON PROPERTIES, PURCHASES ANOTHER

Equity Management Group, Inc. co-brokered the sale of New Circle Crossings on March 10th, 2017. The building was sold for $7.2 million representing a 9.1% cap rate. Originally built in 1967 and located at the intersection of North Broadway and West New Circle Road/KY Route 4, the two-tenant, 67,700 square foot building is 100% leased to Windstream Services and Mattress Overstock. Dan Cooper of Cooper Commercial Investment Group and Jason Taylor of Equity represented the seller. The buyer was represented by Nicholas Bushong of Marcus & Millicap.

 

On February 8th, 2017, EMG brokered the sale of Chevy Chase Shoppes. The 9,600 SF and 100% leased neighborhood center was completed in early 2016. The building is located in the heart of Chevy Chase and shadow-anchored by the state of the art Euclid Avenue Kroger.  Chevy Chase Shoppes was sold for $3.775 million, a CAP rate of 6.3%.  Jason Taylor of Equity represented the seller. The Buyer was represented by Jamie Schrader and Cheri McMullen of Schrader Commercial Properties.

 

EMG brokered the purchase of the Skyzone & Paul Mitchell outparcel at Millpond Shops. The 35,135 SF fully leased center is located along the south side of Man O’ War Boulevard in Lexington. The center is now undergoing exciting cosmetic and access upgrades. The outparcel was purchased for $3.25 million, representing a 9.3% cap rate. Jason Taylor of Equity represented the Buyer and the Seller was represented by Jordan Powell of Matthews Retail Advisors.