Franklin B. Morrison Negotiates Sale Of Five-Building Small Bay Warehouse Portfolio To Investor
The sale was a classic value-add opportunity with rents at 10-20% below market for small bay warehouses.
The sale was a classic value-add opportunity with rents at 10-20% below market for small bay warehouses.
The 6,000-square-foot warehouse sold for $590,000.
A long term (20+ years) tenant recently signed a new 7-year lease starting January 1, 2021 with 3% annual increases at the property.
Morrison represented the sellers in the transaction.
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