Commercial unit sells for $1 million
Last Updated: 16:05 August 28, 2013
The 2,671-square-foot unit previously was occupied by residential real estate brokerage Pedal to Properties, which moved to 2014 Pearl St. about six months ago.
Geoff Keys and Ashley Overton of Keys Commercial Real Estate represented FH Properties in the deal. Chris Boston and Dan Ferrick of Gibbons-White represented the seller, Raja Investments LLC.
Keys said FH Properties is a new company but could not disclose what it is at this time. He said the purchased property at 1949 Pearl will be partially occupied by FH Properties, with about 1,000 square feet leased for retail.
"We don't have a user yet, but we're looking around for one," Keys said of the retail space.
Boston said the sale follows a local trend recently of increased sales activity for commercial condo purchases and owner-user buildings, thanks to the economy recovering and interest rates remaining relatively low.
"There's been some pent-up demand for space," Boston said.
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