News:
Brokerage
Posted: June 7, 2016
Ahrens of Horvath & Tremblay completes 1031 exchange
Horvath & Tremblay" width="125" height="160" /> Brian Ahrens, Horvath & TremblaySyracuse, NY Brian Ahrens of Horvath & Tremblay, has procured the buyer to complete the sale of CenturyLink. Ahrens worked exclusively with the local 1031 exchange buyer to fulfill his exchange requirement. The property closed at a sale price of $715,000, a 7.40% cap rate.
CenturyLink has operated at this location for over 16 years and recently renewed the lease for an additional ten years showing their commitment to this location. The lease also includes two five-year option periods and no landlord responsibilities. The triple net lease is subject to a corporate guarantee adding additional security throughout the term of the lease.
CenturyLink is a global communications, hosting, cloud and IT service company enabling millions of customers to transform their lives through innovative technology solutions. As a leading provider of Internet, TV and Voice, CenturyLink operates over 58 data centers in North America, Europe and Asia.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Recently recognized by Globe Street and Real Estate Forum as one of the “Top 20 Retail Sales Brokers” in the Industry, our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)