SVN Stone Commercial Real Estate is pleased to announce the sale of 145 Burt Road in Lexington, KY. Justin Ryder of SVN Stone Commercial Real Estate represented the seller in this transaction.
When engaged to lease the 12,857 sf property, occupancy was at 50%. Over the course of a year, during COVID-19, successfully completed 9 leases covering 13 units, and listed the property for sale at 100% occupancy.
By increasing NOI, added approximately $750,000 in capitalized value with lease work. Successfully marketed the property for sale and closed on with a pleased seller and buyer.
SVN Stone Commercial Real Estate will continue leasing and managing the repositioned property for new owners.