Hicksville, NY The Petrakis Realty Group of Seaford, represented by Silber Investment Properties, has completed a multistage acquisition of triple net (NNN) properties with 7-Eleven tenants in West Virginia. The latest deal, consisting of five properties, is valued at around $4 million and marks a milestone achievement of over 200 transactions orchestrated between the two companies since 2001.
“Building long-term relationships with property owners and investors is key to our success and makes this profession much more rewarding. I’ve been working with Peter Petrakis since 2001 and he has now become a great friend of mine,” said Adam Silber, principal of Silber Investment Props.
The seller for these transactions was represented by Sam Judd of the Silber Investment Properties’ national net leased division, and Adam Silber represented Petrakis. The properties involved in West Virginia are:
• 1655 W Washington St. in Bolivar;
• 836 Jefferson Ave. in Charles Town;
• 4716 Hedgesville Rd. in Hedgesville;
• 8949 Williamsport Pike in Falling Waters; and
• 26 Charles Town Plaza in Charles Town.
Silber Investment Props. has developed a strategy of prospecting commercial properties that will be an ideal fit for their investor clientele portfolios. The Petrakis Realty Group is focused on triple net (NNN) properties such as Dunkin Donuts, 7-Eleven, fast food restaurants, gas stations, and drug stores, the core focus of the Silber Investment Properties’ national net leased division.
Petrakis Realty Group, started by three brothers in the 1990’s, has bought, sold and developed over $500 million in shopping centers and strip malls. The firm owns and manages their current portfolio of over 100 properties.
Long Island based commercial real estate brokerage; Silber Investment Properties (SIP), specializes in the acquisition and disposition of retail investment properties ranging from multi-million dollar shopping centers to a single tenant chain store. In addition the SIP National Net Leased Division brokers hundreds of Triple-Net (NNN) Properties across the country. Silber Investment Properties has earned a reputation for brokering off-market, in-house transactions, and maintains relationships with REITs, large corporations, family trusts, developers, and private investors.