Franklin Street has arranged the $1.5 million sale of a triple net leased Visionworks, a national chain of optical retail stores, located at 9480 Arlington Expressway in Jacksonville. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Thunder Phoenix, LLC, of Indianapolis, Indiana, in the marketing of the 6,750-square-foot store. The buyer was Florida-based Galzion, LLC, who plans to hold the property for long-term investment.
“The buyer saw an opportunity to acquire a quality property with a long-term lease to a name brand tenant,” said Belk, senior director of retail investment sales at Franklin Street. “The building is currently scheduled to be renovated, which made ownership even more attractive for the investor. We used our extensive professional network to locate a group of international buyers from Brazil. Foreign investors continue to have strong interest in the U.S. as they view it as a stable market for their retail investments.”
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About Franklin Street: Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Real Estate, Capital, Insurance, Management and Valuation – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
