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Posted on January 14, 2012 //

January 12, 2012 by RE Business Online: Midwest News

 

MERRIAM, KAN. — Lee & Associates Net Leased Group in Carlsbad, Calif., a division of the national brokerage firm Lee & Associates, has closed a $19.1 million sale of a car dealership property at 6801 E. Frontage Rd. in Merriam. An undisclosed buyer acquired the 58,430-square-foot property, which is occupied by CarMax Inc.

 

The used-car retailer will remain at the property. CarMax has 17 years remaining on its lease, which includes four, 5-year extension options. Ryan Barr and Ryan Bennett of Lee Net Leased Group assisted the buyer in the assumption of a complex CMBS loan that was already in place on the property. The seller, a non-traded REIT, was self-represented in the transaction.

Filed Under: Press Releases //

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Ryan Barr & Ryan Bennett | Barr & Bennett Net Leased Investments
1900 Wright Place, Suite 200 Carlsbad, CA 92008 | P: 760-929-9700 | F: 760-929-9977

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