The first quarter of 2021 proved to be very successful for the Philadelphia-based arm of CBRE’s Net-Lease Properties team, comprised of Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson.
On April 23, CBRE announced that the team sold 24 properties during 2021’s first quarter, totaling $90,315,094.
The standout transaction was a 10-property corporate sale-leaseback of Auto Lenders owned real estate in Pennsylvania and New Jersey that traded for approximately $55 million. Other noteworthy closings completed during the first quarter included the $6.1 million sale of SAI MedPartners in Exeter Township, Pa.; a $3.6 million sale of DaVita Dialysis in Woodbridge; and the $3.9 million sale of a Pet Palace in West Chester, Ohio.
“Our team’s transaction velocity was solid in the first quarter and we expect that to continue with another $175 million under agreement and on the market,” said Gorman.
“Buyers have focused their investment profiles to specific industries and we’re continually advising our clients on which assets can achieve best pricing in ever-changing market conditions,” Shover added.
The CBRE Net-Lease Property Group Mid-Atlantic team specializes in the marketing and sale of single and multi-tenant net-lease investment real estate. In its 15 year history, the team has sold more than $2.35 billion in net lease properties nationwide.