Rounding out 2008 with Closings
 Capital Pacific is pleased to announce some year-end closings: a Fed-Ex Kinkos in Tallahassee, FL and a Wendy’s in Midlothian, VA.The Fed-Ex was sold for a TX-based developer (in cooperation with an outside broker) to an East Coast buyer. The sales price was $1.2M (8.37% Cap). The buyer liked the tenant and was ultimately able to get comfortable with a relatively short primary term. The Wendy’s property in Midlothian, VA was sold for $1.47M (a 7.15% Cap). The buyer was based in CA and Capital Pacific worked with an outside broker to execute the sale. |