CBRE Net-Lease Team Sells 30 Properties in H1 2020, Totaling More Than $91 Million

31 Jul 2020

DaVita-Gorman-Shover

CBRE today announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson of the Mid-Atlantic Net-Lease Team arranged the sales of 30 properties during the first half of 2020, totaling $91,136,604. 

The properties, most classified as “net lease,” were a mix of grocery stores, drug stores, restaurants, fast-food chains, discount stores, convenience stores/gas stations, auto parts stores, bank branches and drug stores spanning across six states, including 22 properties in Pennsylvania and four in New Jersey. 

Notable transactions include a $20.5 million single-tenant office in Harrisburg; a $5.25 million multi-tenant DaVita anchored property in Philadelphia; $7 million sale of a multi-tenant center in Camp Hill, Pennsylvania; a $5 million Royal Farms property in Downingtown, Pennsylvania; and numerous discount store properties throughout New Jersey and Pennsylvania totaling over $7 million. 

“It’s been a rollercoaster ride in the first half of 2020 for obvious reasons,” said Gorman. “Net lease has fared significantly better than most product types because many of the tenants in our industry are classified as ‘essential,’ he added. 

“Clients are reaching out to us for real time feedback and market guidance, more today than almost any time in the past,” added Shover. “Certain sectors of the industry such as pharmacy, discount and grocery are performing better than ever and have become focal points for investors looking for security and stability during these unprecedented times.” 

Matthew Gorman and Michael Shover, both senior vice presidents, lead CBRE’s Net-Lease Property Group Mid-Atlantic Team along with Thomas Finnegan and Robert Thompson, both Associates. The team specializes in the marketing and sale of single and multi-tenant net-lease investment real estate. In their fifteen-year history, the team has sold well in excess of $2.2 billion in net lease properties nationwide.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.