Chicago, IL (February 2, 2016) – Quantum Real Estate Advisors, Inc. has brokered the sale of the easement rights to a billboard leased to Adams Outdoor Advertising. Located in Norfolk, VA, the billboard was recently upgraded to a state-of-the-art digital board that featured 16 unique faces. The Seller was a private individual based in Virginia. The buyer was a west-coast based institutional buyer. Daniel J. Waszak, Senior Vice President of Quantum Real Estate Advisors, Inc. was the sole broker in this transaction.
Mr. Waszak had the following comments regarding the transaction, “This was a truly unique asset in that only the easement rights were sold. There was no transfer of ownership of the fee interest in either the land or of the billboard.” Mr. Waszak continued “Even with the unique nature of the sale, we were able to find the right buyer and close this transaction in roughly 30-days, which included the holiday break.”
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.