Silber Investment Properties brokers 15 sales in 10 states totaling more than $26 million

Plainview, NY Silber Investment Properties (SIP) brokered 15 deals across 10 states totaling more than $26 million.

Most of the investment sales transactions, all completed within the last few weeks, were for retail properties triple-net leased by large national chains, including CVS, Walgreens, 7-Eleven and Advance Auto Parts and some neighborhood retail strip centers.

The SIP team brokered the following sales:

• A 10,500 s/f building leased to CVS at 3710 Hwy. 17 Bypass in Murrells Inlet, SC sold for $4.5 million at a 6.4% cap rate. Silber’s Stuart Frankel represented buyer L2 Acquisitions LLC and fellow SIP colleague Nicholas Anzalone represented the seller Inlet Junction II LLC.
• A 2,808 s/f building leased to Taco Bell at 280 3^rd St. S. in Jacksonville Beach, FL sold for $2.98 million at a 7% cap rate. Silber’s Erick Vaysman represented buyer RG Retail Holdings LLC and his Silber colleague Stephen Spiegel represented seller Cala 3^rd Street South LLC.
• A 10,500 s/f building leased to Walgreens at 170 Granite St. in Westerly, RI sold for $2.775 million at an 8.6% cap rate. Silber’s Anzalone represented both the buyer Gaspee Real Estate Partners and the seller Bergeron Realty Trust.
• A 10,400 s/f strip mall anchored by Carvel and Subway at 400 Horseblock Rd. in Farmingville, NY sold for $2.65 million at a cap rate of 6.16%. The buyer UG Properties was represented by Silber’s Sam Judd and and Anzalone while the seller Petrakis Properties was represented by Adam Silber.
• A 5,970 s/f retail building at 10414 Flatlands Ave. in Brooklyn, NY sold for $2.65 million at a cap rate of 6.6%. Buyer Saidi Family and seller Lambros Ballas were both represented by Silber broker Chinho Park.
• A 2,916 s/f building leased to Taco Bell at 215 Watson Rd. in Arlington, TX sold for $2.07 million at a 5.75% cap rate. The buyer CJS Taco Bell Arlington LLC was represented by Silber’s Judd while the seller Bergeron Realty Trust was represented by Silber colleague Anzalone.
• A 7,000 s/f building leased to Advance Auto Parts at 184 CT-12 in Groton, CT sold for $1.95 million at a 7.15% cap rate. Silber’s Vaysman represented buyer 184 CT 12 Groton LLC and his Silber colleague Steve Carullo represented seller Napas Advance LLC.
• A 2,585 s/f building leased to 7-Eleven at 8810 Hampton Mall Dr. N. in Capitol Heights, MD sold for $1.52 million at a 5.36% cap rate. Silber broker Park represented the buyer Vakrinos Family while fellow Silber colleague Blake Benitez represented seller C. Wang.
• A 1,783 s/f building leased to KFC at 109 State St. in Schenectady, NY sold for $1.1 million at a 5.25% cap rate. The buyer KBP Foods was represented by Adam Silber while the seller B&C White Family Limited Partnership was represented by Silber’s Anzalone.
• A 2,400 s/f building leased to 7-Eleven at 146 Hubbard St. in San Fernando, CA sold for $925,000 at a 5.4% cap rate. Adam Silber represented the buyer Petra Management, while Silber’s Anzalone represented the seller Salapatas Trust.
• A 2,500 s/f retail strip at 1712 Pitkin Ave. in Brooklyn, NY sold for $820,000 at a 7.2% cap rate. Both the buyer Lee Family and the seller Gaspare Imburgia were represented by Silber broker Park.
• A 900 s/f building at 4840 Babcock St. NE in Palm Bay, FL sold for $800,000 at a cap rate of 4.5%. Both the buyer Poon Family and the seller Rahmy Tawfik were represented by Silber broker Park.
• Two 7-Eleven locations in Bay City, MI were sold — 900 Cass Ave. for $613,000 and 3543 Old Kawkawlin Rd. for $674,000, each at a 6.5% cap rate. Adam Silber represented buyer Peter Petrakis, and Silber’s Bret Verderber represented the seller Alexander Petakovich.
• A 6,500 s/f building leased to Advance Auto Parts at 1505 13^th St. in Parkersburg, WV sold for $435,000 at a cap rate of 9.46%. Buyer Arcwell Group was represented by Silber broker Chris Madlon while Adam Silber represented the seller Lindenhurst Realty Group.

SIP founder and president Adam Silber believes his firm’s outstanding performance is a testament to the perseverance of his team. “I'm very proud of my salespeople,” he says. “It takes a lot to keep everyone motivated to keep working hard when all they hear on the news is that high interest rates are destroying the real estate business. It goes to show that optimism and hard work overcomes it all.”