Sold Alerts provide commercial property owners with valuable, hard-to-get comparable sale information.
Located in the Chestnut Hill neighborhood, two industrial properties known as 901 and 931 6th Avenue S just sold.
Each parcel is home to an existing industrial building.
The parcels hug downtown’s inner-interstate loop and total 2.31 acres.
The parcels are just west of the Adventure Science Center.
The buyer is assembling land for a mixed-use “New Heights District”.
Prior to the transaction the buyer already owned or controlled 8 acres of the 20 acre area.
So far, the project calls for a 31,000 SF building to be leased to the co-working business Serendipity Labs, additional office space and an apartment component.
The seller provided 50% of the financing.
The property just sold for $14,800,000…the equivalent of $147/SF of land.
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About Beau Beach, MBA CCIM
Beau is a tenacious Commercial Real Estate Broker, entrepreneur and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee and Florida markets.
He’s earned the revered “CCIM” designation which is awarded to the top 6% of all commercial real estate brokers.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 800-721-3287, click to schedule a call or Beau@BeachwoodSells.com