Unique Properties is proud to announce the sale of Hillcrest Plaza. The 34,269 square foot retail property was acquired Tuesday, September 15th for $5,000,000. Marc Lippitt, Scott Shwayder, and Justin Herman of Unique Properties represented both the seller, Savageau R Limited Partnership and the buyer, McCain Properties II LLC in the transaction. Furthermore, Unique Properties will also be managing leasing for Hillcrest Plaza, with Unique Management Solutions providing property management services.
TRANSACTION INFORMATION:
- Price: $5,000,000
- Cap Rate: 8.11%
- Location: High traffic area with easy access and visibility
- Other: Upside potential with 8% vacancy, many rental rates below market
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