Chicago, IL (October 27th, 2020) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single tenant Jiffy Lube located at 7007 East Broad Street, Columbus OH. The property sold for $1,710,000. Jiffy Lube had roughly 14.5 years remaining on a recently extended, 15-year Lease. The buyer is a private real estate investor based in Texas. The seller is a private investor from New York. Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc., and Zack Hilgendorf, Executive Vice President of Quantum Real Estate Advisors, Inc. represented the Seller in the transaction.
Mr. Waszak had the following comments regarding the transaction, “The Sellers were able to acquire this property at an attractive price, obtain a long-term lease renewal and realize a nice gain on the property.” Mr. Hilgendorf added, “The buyer’s ability to extend Jiffy Lube’s lease shows the high-quality of the location. It also shows the strength service-oriented retail tenants still have in the net-lease sector, undermining the ‘retail apocalypse’ fears.”
Quantum Real Estate Advisors, Inc. (www.qreadvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management and financing.