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With two new malls opening in Southaven and Collierville last month, new shopping centers going up and older centers changing hands, the local retail real estate business is thriving.

Activity in the market is mirrored with movement of brokers among area real estate firms, as those handling the behind-the-scenes deals wrestle to keep up with demand.

“There’s just a lot going on,” says Sam Mitchell. “I can’t imagine any reason why it would slow down.”

Mitchell recently joined McCullar Ferguson Realty LLC as affiliate broker. The small firm, headed by Meredith McCullar and Mike Ferguson, shifted its focus south to DeSoto County a few years ago. They’ve stayed busy ever since.

Mitchell comes to McCullar Ferguson after three years with Trezevant Enterprises, where he focused on retail leasing. It’s Mitchell’s previous career in the corporate world that enables him to relate to his clients. He worked for EC Blackstone Co., a Memphis-based distributor of industrial supplies and CNC Machine tools, for 35 years, becoming the company’s president in 1991.

Looking for a change, Mitchell started his real estate career with Crye-Leike’s commercial division in 2000.

He says he’s excited to be focused in DeSoto County, where there is a general pro-growth attitude. “There’s just a lot of excitement here at all levels,” he says.

Commercial Alliance Management is another local firm that has recently expanded with the addition of broker Bentley Pembroke and vice president Patty Lycan. Until recently, the company’s focus was on industrial real estate, but it is now expanding into retail.

“Retail is one of our stronger markets in the Memphis area, and I think we’ll see it continue to grow,” says president Mark Jenkins.

Strictly through referrals, Commercial Alliance Management is already managing six shopping centers in the Memphis area and one in Jackson, Tenn. Lycan comes to the company with 26 years of experience. Locally she has worked with CB Richard Ellis, CRESA Partners and Weston Cos. Lycan, who was marketing director for Weston Cos.’ retail division, says local retail brokers are a tight-knit group.

Chantilly, Va. (AP) – The commercial real estate market in Northern Virginia apparently is booming once again.

Developers are building on speculation once again, thanks to government contracting. New requirements for better security for government workers apparently is fueling this building boom.

Tommy Ellis is a principal in Carlyle Group, which plans to build two five-story office buildings in Chantilly. He tells The Washington Post it’s a “who’s who of defense contractors” who are working out of the Westfields Corporate Center.

Developers expect more demand for office space in places like Chantilly, where buildings can be built sturdier and set back far enough from the road to deter attacks. A new CIA complex is being planned near Westfields, which should generate even more demand from agencies and contractors.

Westfields already has about five million square feet of office space, with an additional 1.1 million either under construction or on the drawing board. Much of that is going on even though the space has not been leased. That’s a reversal from the recent past, when the technology bust of the 1990s left companies with millions of square feet of unleased space.

Vacancy rates soared, and rents plummeted, and developers only built if they had tenants.

JACKSONVILLE, FL—Housing starts have grabbed the headlines in recent years, but the stage is set for a commercial real estate boom on the First Coast.

“The city’s goal of having 10,000 people living downtown, I think is realistic,” said CB Richard Ellis Broker Bruce Jackson.

“It’s not going to happen as fast as everybody wants it, but it’s definitely already started, having a 24/7 city.”

And with older hotels being converted to condominiums, and a new high-rise condo tower going up on the South Bank there is excitement in the commercial real-estate world.

Traditionally, most tenants in such high-rises live on the upper floors.

“The lower half of those buildings are likely to be retail and commercial businesses throughout downtown,” said Jon Metzger of the Real Estate Research and Appraisal Giant, CoStar.

Metzger says he’s certain the First Coast is in a commercial real estate boom. His job is to zig-zag through the landscape photographing existing buildings and open spaces where future buildings can go. But his photography has an added flair.

Metzger drives one of CoStar’s customized ‘rolling offices.’ It’s a special van equipped with a 25-foot tall telescoping mast with a high-end digital camera on top.

Once parked, he switches to a swiveling Captain’s chair in the back of the van at a desk complete with wireless computers linked directly to his Corporate Headquarters in Maryland.

“Once that camera’s up in the air, I can focus in and zoom in to the building or zoom out again, to get the best quality picture I can. To get the whole building,” said Metzger.

His data is uploaded to the CoStar company’s headquarters, where subscribers the world over can access the building and office space information they need to buy or lease property here on the First Coast, or to relocate their businesses here.

“Since we’ve had the Super Bowl here, it has boomed. It has just escalated ten-fold. I can’t keep up with the business and the demand for real estate information,” said Metzger.

Those who sell and lease commercial real estate say that while it is often a cyclical business, right now, Jacksonville and the entire First Coast are on an upswing.

They say it’s a direct reflection of the global attention we got after Super Bowl XXXIX.

“South Florida, the bloom is off the rose so to speak and now they want to come north,” said Bruce Jackson.

“Jobs are the greatest predictor of future office space demand, and all those are positive right now. We don’t see any sizable change in that real soon.”

Rent in much of Nashville so steep that small businesses have difficult time finding affordable site.

By RICHARD LAWSON
Staff Writer

If consumers have grown wary of the economy and cut back on spending a little, Nashville’s retail real estate market hasn’t felt the impact.

Rents on retail stores around the area continue to rise, vacancies are few and new construction of retail square footage is booming. But the construction to date hasn’t helped much in one area. There is still a need for additional small-shop space.

“The market is tougher now for small guys than it has ever been,” said Steve Rudd, a Nashville retail broker.

Rudd said rents in some of the hottest areas — Brentwood, Cool Springs, West End and Green Hills — are so high that it’s tough for a small business to find affordable space in the 1,000- to 3,000-square-foot range, the kind of space that a boutique dress shop or jewelry store might need.

The latest real estate figures show vacancy at 4.5% across the Nashville area in this year’s third quarter, a smidge higher than the previous quarter but 3.5 percentage points lower than a year ago, according to real estate analysts CB Richard Ellis.

Rudd pointed out that the vacancy numbers typically don’t include empty “big-box” stores such as an out-of-commission Wal-Mart or Kmart.

Nonetheless, over the past year, average rents have risen $2.33 per square foot to $13.91 in the 17 area neighborhoods that the Ellis company tracks.

Brentwood has the highest average rents at $23.18 per square foot, and Cool Springs is next at $20.68. West End and Green Hills also have some of the highest rents in the Nashville area at just under $20 per square foot.

Next quarter averages could be higher, especially in Cool Springs, analysts said, because tenants
are paying hefty prices to be
there.

David McDowell, a Grubb & Ellis/Centennial broker, said a client of his signed a lease for $28 per square foot at Boyle Investments’ new shopping center, Cool Springs Collection at Jordan Road and Mallory Lane in Cool Springs.

“To get in that market, you pay,” McDowell said.

He added that he has been seeing rents of $27 to $28 per square foot in parts of Cool Springs, the largest retail shopping spot in the Nashville area with 4.2 million square feet. The area includes Cool Springs Galleria.

“I think when people look they get sticker shock,” said Holly Buchanan, a retail broker with Colliers Turley Martin Tucker.

Debbie Gordon, founder of Snappy Auctions, said it took a year before she found space in Cool Springs Collection for a franchise location.

Gordon had made a run at a location in a different shopping center but couldn’t land the deal. So she waited for another opportunity and was able get into Cool Springs Collection, one of the rare centers with small space.

Rates in Cool Springs can dip lower if a tenant is willing to set up shop off the beaten path in a location without such high visibility. In those cases, rents can dip as low as $17 to $20 per square foot, brokers said.

Rates ease considerably heading into Murfreesboro, Hendersonville/Gallatin and Mt. Juliet/
Lebanon, where a typical retailer might pay $11 to $14 a square foot, according to the CB Richard Ellis data.

Roughly 75% of the 2.3 million square feet of retail property under construction in the Nashville area is going up in Murfreesboro, Hendersonville/Gallatin and Mt. Juliet/Lebanon, the data also show.

Sales of commercial property in the UK are set to reach a record 50 bln stg this year, up 20 pct from a year earlier, the Financial Times newspaper reported, quoting figures from Jones Lang LaSalle, one of the world’s biggest property advisory firms.

Around 11.7 bln stg worth of deals were carried out in the third quarter alone, a 40 pct rise from the second quarter, taking the nine-month total to 32.6 bln stg, it added.

The growth was both due to an increase in prices and the unprecedented levels of deals, it said, noting that the central London office market had been particularly “vibrant” this year.

The Enquirer

Transfers

The most expensive commercial property transfers recorded recently in Hamilton, Clermont, Butler and Warren counties in Ohio; and Boone, Kenton and Campbell counties in Kentucky, based on dollar values of $200,000 or more (data collected by First American Real Estate Solutions, publisher of the Pace Report, from county records):

Kentucky

Covington

Property: 314 Greenup St. Use: Office building. Price: $265,000. Buyer: Greenup Place Properties LLC and Richard R. Slukich. Seller: Robert W. Carran.

Newport

Property: 25 Carothers Road. Use: Other commercial structures. Price: $403,000. Buyer: William Newman and Merril Hodge. Seller: GE Capital Franchise Financial Corp.

Ohio

Blue Ash

Property: 11405 Grooms Road. Use: Light manufacturing and assembly. Price: $1,650,000. Buyer: Feintool Cincinnati Inc. Seller: Mavitt Group LLC.

Clifton

Property: 3313 Vine St. Use: Apartment building. Price: $315,000. Buyer: John L. Frase and Larry Griggs. Seller: William B Hensley.

Columbia Township

Property: 6540 Murray Ave. Use: Apartment building. Price: $1,925,000. Buyer: Mariemont Woods LLC. Seller: Marcus Investments II Ltd.

Fairfield

Property: 7245 Dixie Highway. Use: Restaurant/cafeteria/bar. Price: $950,000. Buyer: Crystal Palace. Seller: Thu V Tran.

Glendale

Property: 500 E. Sharon Road. Use: Industrial warehouse. Price: $400,000. Buyer: Cincinnati Capital Partners XXV LLC. Seller: Contractors Service Co.

Mount Auburn

Property: 2531 Burnet Ave. Use: Apartment building. Price: $349,500. Buyer: 2531 Burnet LLC. Seller: John F. Glaser Jr. trustee.

Over-the-Rhine

Property: 1312 Main St. Use: Barber/hair shops. Price: $2,000,100. Buyer: FHD Holdings LLC. Seller: Franciscan Homes II Ltd. Partnership.

Property: 1343 Main St. Use: Apartment building. Price: $760,000. Buyer: Kauffman Jacobs and Sulfsted Holdings LLC. Seller: Over-the-Rhine Property Investments LLC.

Oxford

Property: 5285 Brown Road. Use: Medical clinic and office. Price: $520,000. Buyer: Miami University. Seller: Nevaeh Ltd.

Union Township

Property: 4427 Aicholtz Road. Use: Other commercial structures. Price: $540,000. Buyer: Eastgate Professional Office Park VI. Seller: Integrated Auto Technology.

Property: 4414 Aicholtz Road. Use: Commercial garage. Price: $300,000. Buyer: Eastgate Professional Office Park. Seller: Chanticleer Properties.

University Heights

Property: 650 Straight St. Use: Apartment building. Price: $1,200,000. Buyer: 201 Klotter LLC. Seller: Gaslight Property LLC.

Walnut Hills

Property: 2548 Woodburn Ave. Use: Apartment building. Price: $500,000. Buyer: Bulluck Terrace Developers LLC. Seller: Walnut Hills Association Ltd. Partnership.

West Chester Township

Property: 7379 Squire Court. Use: Industrial warehouse. Price: $2,250,000. Buyer: Squire Road Property LLC. Seller: Seba B. Payne trust.

Property: 4860 Duff Drive. Use: Industrial warehouse. Price: $1,800,000. Buyer: Duffers Development LLC. Seller: Watch Holdings LLC.

Property: 9639 Inter Ocean Drive. Use: Industrial warehouse. Price: $1,100,000. Buyer: Duffers Development LLC. Seller: Watch Holdings LLC.

Property: 9984 Commerce Park Drive. Use: Machine tool shop. Price: $450,000. Buyer: Updike Development LLC. Seller: Stanley and Frances L. Cohen.

Rents on Fifth Avenue rose 38% during the past year as retailers such as Abercrombie & Fitch competed for space on the world’s most expensive shopping street.
The average rent was $13,993 per square meter a year at the end of June, up from $10,226 a year earlier, Cushman & Wakefield said in a new report.

Abercrombie, a casual-clothing retailer catering mainly to teenagers, is opening a 34,000-square-foot store on the corner of Fifth Avenue and 56th Street.

“The hottest stretch of Fifth Avenue is north of 49th Street,” Gene Spiegelman, executive director of retail services at Cushman & Wakefield in New York, said. “We are seeing luxury brands being joined by the popular fast-fashion brands, all in search of global brand recognition.”

LVMH Moet Hennessy Louis Vuitton SA, which has a Fifth Avenue store, and Cie. Financiere Richemont AG are among luxury-goods companies opening new stores as the $162 billion industry rebounds from a slump in the second half of 2003.

The global luxury-goods market will grow about 7% this year, fueled by consumers with more money to spend in the U.S. and Asia, according to a Bain & Co. study.

Also in New York, rents on Madison Avenue and East 57th Street are more expensive than many other streets in Europe.

Madison Avenue has rents of $10,764 and East 57th Street $8,073.

Rents in Causeway Bay in Hong Kong jumped 90% to $11,653, leapfrogging Avenue des Champs-Elysees in Paris as the second-most expensive street.

“A growing number of global brands are vying for limited space on the pavements of the world’s top shopping destination,” said Darren Yates, the head of U.K. market analysis at Cushman & Wakefield who wrote the report.

New Bond Street toppled Oxford Street as London’s most expensive shopping street for the first time in 20 years after rents rose 25% in local currency terms to $6,753 per square meter.

Investors will pour a record $200 billion into commercial property in the United States this year, according to a survey presented Tuesday by a real estate services firm at an industry gathering in San Francisco.

Pension funds, private equity firms and foreign investors continue to see real estate as a popular alternative to stocks, bonds and other investment vehicles, even as returns on U.S. real estate are being squeezed by the higher prices paid for buildings, said Bruce Mosler, chief executive of the Cushman & Wakefield services firm.

Over the last five years, Mosler said, the value of the National Association of Real Estate Investment Trusts index has gained more than 20 percent while the Standard & Poor’s 500 index has lost about 3 percent.

“Capital continues to be reallocated to the real estate market and there is nothing to suggest that the stock market will be less volatile in the near future,” he said.

It’s already been a banner year in San Francisco, the second-most-popular market for big investors after New York City, according to Cushman & Wakefield. More than $4 billion in commercial property sales have closed in the city in 2005.

But Ken Rosen, a UC Berkeley real estate and economics professor, said stocks of publicly traded real estate investment trusts are due for a fall in the next two years because they have become overvalued. Rosen said REIT prices could drop by 20 percent after enjoying big gains during the last five years.

Still, Rosen said, it is clear that huge amounts of capital are chasing real estate, despite rents in San Francisco and other cities that do not justify the prices being paid for office towers. “A lot of money wants to get into real estate and needs to be satisfied,” he said.

The increasing competition to buy investment-grade property means that San Francisco’s Shorenstein Co. has had to change tactics, said company President Glenn Shannon.

“We want to do deals where it’s not just a contest of who can stack the most cash on the table,” Shannon said, adding that Shorenstein has entered into partnerships that it would not have touched just a few years ago.

Those ventures allow Shorenstein to achieve higher yields by offering services such as lending to its partners when they compete with a cash-rich pension fund for total control of a building, Shannon said.

For all the optimism surrounding the market, Rosen questioned whether office vacancy rates in San Francisco would drop to single digits by the end of 2007, as some experts have predicted.

Rosen said San Francisco needs to create 15,000 new jobs to “feel healthy.” Only 8,000 jobs were created in the city last year.

What’s more, Rosen said, a healthy commercial market in San Francisco would mean an 8 percent office vacancy rate and average rents of $50 per square foot. But the office vacancy rate at the end of the third quarter was 16.5 percent and Class A office rents were at $31 per square foot, according to Cushman & Wakefield.

Beaverton, OR, (PRWEB) October 18, 2005—http://www.pacificsecuritycapital.com – Pacific Security Capital (“PSC”), a leading commercial real estate investment bank providing commercial loans, structured finance, equity financing, investment sales and advisory services, explains the risks and benefits of investing in emerging markets.

Commercial real estate investors are facing the most competitive commercial real estate market environment in recent history. Improved market efficiencies coupled with today’s surplus of capital flow have created a reduction in the total investment returns that can be achieved on investments in the U.S. commercial real estate industry.

“Instead of disinvesting themselves from commercial real estate allocations, investment managers are now looking around for higher growth markets,” said Mike Myatt, Executive Managing Director, Pacific Security Capital. “Emerging Markets in Eastern Europe, India, Latin America, China, and the rest of Asia present scenarios for higher growth, even on a risk adjusted basis.”

The following factors will allow commercial real estate investors to achieve higher returns by investing in emerging markets as opposed to the U.S. market.
• Rising Economies: Over the past decade, the twin drivers of expanding world trade as well as a more globalized production system have permitted a number of Emerging Markets to experience the highest GDP rates in the world.
• Demographics: For the most part, Emerging Markets represent younger populations, growing numbers of well-educated professionals, an expanding middle class, growing consumer bases, urbanization, and rising incomes
• Commercial Demand: The economic expansion as well as the presence of global companies that bring employment oriented around intellectual capital is creating demand for modern, western style, commercial real estate infrastructure.
• Residential Demand: One of the biggest exports the U.S. has had over the past twenty years has been culture and lifestyle. As the successful Emerging Market economies undergo the demographic shifts described above, demand for western style single family residences as well as modern multifamily is experiencing explosive growth.
• Closed Market Systems Opening Up: Most successful Emerging Markets have been engaged in systematic reform of basic societal values we take for granted in the developed world. These include property rights, legal process, published regulations etc.

“Despite the many benefits of investing in emerging markets, investors should do so with extreme caution,” said Jim Kean, Managing Director & Chief Investment Officer, Pacific Security Capital.

Some of the most common risks of investing in emerging markets include:
• Political risk: The process of modernizing the economies and systems of emerging markets does not represent a steady or predictable process, which has been influenced by political developments.
• Legal and regulatory transparency: It is important to properly understand a country’s system for governing property rights and development if significant investment returns are to be expected.
• Property rights: In the U.S., title companies provide a very systematic, quickly researched method for determining legal descriptions of property as well as what constitutes a claim on the subject property. Things are not nearly as straight-forward in an emerging market.
• Lack of professional commercial real estate skills: emerging markets are fragmented and lack the professional services a developed world investor may take for granted.
• Operational and logistical concerns: maintaining offshore investments in commercial real estate can add to the complexity of operational and logistical efficiencies.
• Liquidity concerns: Lack of central databases as well as public records of transactions means that there is a deficiency of market pricing information to make comparisons as well as drive transactions. Reduced market transparency also means that transactions take longer to close.
• Infrastructure: In the U.S., there is an assumption of basic infrastructure as structured and mandated by an organized governmental authority. In many cases, rules governing infrastructure and who is responsible for it barely exist in these emerging market countries
• Zoning and impairment: Every market has a different approach to what the owners of properties around your property may or may not do. In many of these environments, little or no zoning exists. The risk of someone engaging in development detrimental to the value of your property is very real.
• Capital Controls: When confronting the issue of repatriating capital from a successful commercial real estate investment, there is a real danger of not being able to extract capital and/or profits from the Emerging Market.
• Currency Risks: Let’s say U.S. investor is taking dollars and purchasing an Indian property denominated in rupees. Two years later the property sells and you record a big profit. However, if you did not hedge the currency, you risk recording a loss or at least a reduced profit because of exchange differences.

“While all of these risks (and more) can be present in emerging markets investments, these risk factors can be successfully managed by engaging the appropriate professional advisor,” said Kean. “A successful emerging markets investment strategy will involve selecting a set of advisors who can help a new investor navigate the maze of issues present in each geographic area.”

For more information on investing in emerging markets, visit http://www.pacificsecuritycapital.com or contact Pacific Security Capital at 1-800-844-6085.

About Pacific Security Capital
Pacific Security Capital is a leading commercial real estate investment bank providing commercial real estate loans, structured finance, investment sales and corporate, professional and advisory services. PSC is headquartered in Beaverton, Oregon with other offices worldwide. More information about the company can be found at www.PacificSecurityCapital.com.

Sunday, October 9, 2005
Commercial Real Estate

Transfers

The most expensive commercial property transfers recorded recently in Hamilton, Clermont, Butler, Warren, Boone, Kenton and Campbell counties, based on dollar values of $200,000 or more (data collected by First American Real Estate Solutions from county records):

Ohio

Anderson Township

1113 Fehl Lane. Use: Commercial. Price: $325,000. Buyer: Group Realtors OKI LLC. Seller: Fehl Properties Ltd.

Arlington Heights

717 Clark Road. Use: Commercial. Price: $441,500. Buyer: Greenfields Management Capital Group LLC. Seller: Pradip C. Patel.

Bridgetown

4270 Harrison Ave. Use: Other commercial structures. Price: $330,000. Buyer: DJ J Properties LLC. Seller: Virginia Schaffer.

Cheviot

4167 North Bend Road. Use: Other commercial structures. Price: $218,000. Buyer: Erato Enterprises LLC. Seller: Marilyn E. Zerhusen.

Colerain Township

2480 Clover Crest Drive. Use: Apartment building. Price: $540,000. Buyer: ROI Enterprises LLC. Seller: Tri Ventures.

Columbia Township

7489 Wooster Pike. Use: Commercial. Price: $1,145,000. Buyer: Wooster Pike Group LLC. Seller: Rasem Al-Saleh.

Downtown

1400 Reading Road. Use: Discount store. Price: $2,200,000. Buyer: Staples The Office Superstore. Seller: Christine Chronis trustee.

East End

4224 Airport Road. Use: Light manufacturing and assembly. Price: $350,000. Buyer: James R. and Candace Sexton. Seller: Andrew B. Thul.

Forest Park

1310 Kemper Meadow Drive. Use: Industrial warehouse. Price: $8,200,000. Buyer: Reef America REIT II Corp. VVV. Seller: State Of California Public Employees Retirement System.

Hamilton

750 Washington Blvd. Use: Commercial garage. Price: $950,000. Buyer: James R. Schaefer. Seller: Champion East Ltd.

Loveland

800 W. Main St. Use: Apartment building. Price: $2,750,000. Buyer: Matrix Westover Village LLC. Seller: Westover Village

131 E. Broadway. Use: Other commercial structures. Price: $1,060,000. Buyer: Dales Way Investment LLC. Seller: Nisbet Property Holdings.

Madisonville

5311 Hetzell Street. Use: Medium manufacturing and assembly. Price: $280,000. Buyer: John R. Westheimer trustee. Seller: Nutone Inc.

Montgomery

9352 Main St. Use: Office building. Price: $647,500. Buyer: Rainbow Leasing LLC. Seller: First Equity Funding Group Inc.

Mount Auburn

529 Liberty Hill. Use: Apartment building. Price: $397,000. Buyer: Yong Pan. Seller: U See Rentals LLC.

Norwood

1912 Mills Ave. Use: Apartment building. Price: $205,000. Buyer: Louis I. Bendle. Seller: Foundation Bank.

Oakley

4130 Allendale Drive. Use: Apartment building. Price: $243,800. Buyer: Hotlanta Properties LLC. Seller: Allendale Apartments LLC.

Over-the-Rhine

1616 Moore St. Use: Food/drink processing. Price: $350,000. Buyer: St. Anthony Enterprises LLC. Seller: Birdseye Foods Inc.

Sycamore Township

7575 Baen Road. Use: Industrial warehouse. Price: $750,000. Buyer: Ferraro Industries LLC. Seller : Aseere Industries Ltd.

West Chester Township

5558 Union Centre Drive. Use: Light manufacturing and assembly. Price: $1,100,000. Buyer: West Chester Building Group LL. Seller: Sandra G. Marx.

Westwood

3612 Schwartze Ave. Use: Apartment building. Price: $205,000. Buyer: Antonio and Angela M. Muccillo. Seller: David A. Kelly trustee.

Woodlawn

1060 Skillman Drive. Use: Industrial warehouse. Price: $530,000. Buyer: Spoiler Central LLC. Seller: Walter J. Schum.

Kentucky

Covington

235 W. Fifth St. Use: Auto service station. Price: $550,000. Buyer: Warsaw Carwash LLC. Seller: J. Howard Adams.

2001 Madison Ave. Use: Other retail structure. Price: $350,000. Buyer: Dwight W. Broeman Sr. trustee. Seller: Dwight W. Broeman trustee.

Florence

7901 Mall Road. Use: Restaurant/cafeteria/bar. Price: $1,000,000. Buyer: Os Realty Inc. Seller: CC Restaurant Ltd 9.

31 Girard St. Use: Commercial. Price: $480,000. Buyer: Mar Lar Properties LLC. Seller: Pullen Co.

Newport

803 E. Sixth St. Use: Apartment building. Price: $4,600,000. Buyer: Hannaford LLC. Seller: Mansion Hill Management LLC.

836 Isabella St. Use: Other commercial structures. Price: $460,000. Buyer: Housing Authority of Newport. Seller: Roger J. Foys.