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Hanley’s Lefko and Asher Sell BofA Branch in Twin Cities
Hanley Investment Group Real Estate Advisors completed the sale of a newly- constructed, single-tenant Bank of America in the Twin Cities suburb of Brooklyn Center, MN. The purchase price was $2,740,000 for the absolute triple-net ground lease.
EVPs Jeff Lefko and Bill Asher represented the seller and developer, Told Development of Minneapolis. The buyer, a private investor from Princeton, NJ, was represented by Carlos Aguilar of Axia Real Estate Group in San Diego.
“We generated multiple qualified offers at or near list price in the first couple weeks of marketing the property, and ultimately secured an all-cash buyer at the list price and closed the sale at an aggressive cap rate,” said Lefko. “The property benefits from an outstanding location with direct freeway visibility and access, and is adjacent to Shingle Creek Crossing, which features an excellent mix of national credit tenants that bring in a regional draw of customers.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
