Erie, PA Cleeman Realty Group completed the sale of a net-leased Tops supermarket property for $7.1 million. The property, encompassing 77,000 s/f on approximately 8.8 acres, is strategically located between Cleveland, Ohio, and Buffalo, New York.
Michael Cleeman of Cleeman Realty Group represented the buyer, while Sam Seelenfreund represented the seller in this transaction. This marks the 13th Tops supermarket that Cleeman Realty Group has recently sold. The property’s strong sales performance and built-in rent increases were significant factors in attracting the buyer, who sought to expand an existing portfolio of Tops supermarket locations.
“The seller capitalized on the robust demand for high-performing net-leased supermarket properties with no landlord responsibilities,” said Michael Cleeman, principal at Cleeman Realty Group. “This transaction underscores the strength of the grocery sector and the appeal of long-term, stable investments with growth potential.”
“The Tops supermarket’s proven sales performance and favorable lease structure make it a valuable asset for the buyer, enhancing their portfolio of similar properties and solidifying their investment strategy in the retail sector,” said Seelenfreund
This sale reflects Cleeman Realty Group’s expertise in navigating complex transactions and delivering tailored solutions that meet the unique needs of buyers and sellers alike.
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