Hanley Investment Group Real Estate Advisors arranged the sale of two new-construction, single-tenant Dollar General properties in Ohio in separate transactions. The two build-to-suit properties were located in Windham and Bradner, OH and sold for a combined $3.1 million.
Senior associate Beau Velten, along with EVPs Jeff Lefko and Bill Asher, in conjunction with ParaSell, Inc., represented the buyer, a private 1031 exchange buyer based in San Diego, in both transactions. The seller and developer of both properties, Zaremba Group of Lakewood, OH, was represented by Doug Holtzman and Tori Nook of Anchor Cleveland.
“Hanley Investment Group represented the California-based investor who traded out of a multifamily property,” said Velten. ”We helped facilitate our client’s goal to acquire two passive retail investments at above-market returns outside of California to fulfill a 1031 exchange requirement. Additionally, we worked with multiple lenders in order to secure the best possible financing.”