| Press release / June 2007 | View PDF |
Next Realty, LLC Affiliate Sells 4141 Duke Street in Alexandria, VA; Retail Center Occupied by Renal Care Facility and Fudruckers
Northbrook, IL (June 6, 2007) – An affiliate of Next Realty, LLC has completed the sale of the 22,083-square-foot retail building on 2.21 acres of land located at 4141 Duke Street in Alexandria, Virginia. The Buyer was an affiliate of Greentree Partners, LLC, a private real estate investment firm. Terms of the sale were not disclosed.
The property was originally was developed in 1967 as a Safeway Grocery Store. Current tenants of the property are Biomedical Applications of Virginia, operating as Alexandria Kidney Center, which occupies 13,115 square feet, and a Fuddruckers restaurant, which occupies 7,865 square feet. The property features parking for 125 automobiles.
Next Realty acquired 4141 Duke Street in April 2004.
According to George Z. Galloway, Principal, Next Realty Mid-Atlantic, LLC, "This property was part of Next Realty’s 2004 Opportunity Fund Acquisitions. As a normal course of business, once we maximized value on this property, ownership felt the time was right to sell the asset."
Remy Esquenet and George Galloway represented Next Realty in the disposition. The buyer was represented by Scott Wilson of Greentree Properties.
About Next Realty, LLC:
Next Realty LLC, with offices in Northbrook, Ill., and McLean, Va., creates and retains wealth through commercial real estate, including acquiring and developing shopping centers, parking structures, and retail land.
