Industries Commercial Real Estate

Advance Auto Property sells in Newport News for $1.8 million

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An Advance Auto store at 1004 J. Clyde Morris Blvd. in Newport News has sold for $1.8 million. Platsa-1LLC purchased the 7,000-square-foot retail property from KLS Development Group as an investment. The purchase price represents a 7.75 percent cap rate on in-place net operating income. Eric B. Robison and Catharine Spangler of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the seller.

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