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Hanna & Peek Sell College Ave Shoppes, Retain Management

College Ave Shoppes Retail strip center in Salisbury, MD sold by Henry Hanna at SVN-Miller

SEPTEMBER 2017, SALISBURY, MD – SVN | Miller Commercial Real Estate Senior Advisors Henry Hanna, CCIM, SIOR and Chris Peek, CCIM recently sold the College Avenue Shoppes located in Salisbury, MD to an investor. Located on 3.7 acres, the 20 unit strip center has 80% occupancy and a great location near Salisbury University. Henry Hanna represented the seller and the buyer, Keystone Property Group, was represented by Chris Peek. The property traded for $1,800,000.

In addition to negotiating the sale of this property, SVN-Miller Commercial Real Estate has also been retained to manage the property by Keystone Property Group. Current tenants include Taylor’s BBQ, Paul’s Pizza, Beach Fever, Benjamin’s Wear it Again, All State Insurance and several more. Andy Ball will be the Property Manager for this center and will immediately begin focusing on restructuring the current expired leases as well as a capital improvement plan for the near future.

For more information about this transaction contact Henry Hanna at henry.hanna@svn.com or Chris Peek at chris.peek@svn.com. To inquire about our professional property management services, contact Rick Tilghman at rick.tilghman@svn.com or call 410-543-2440.

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