PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson—the Philadelphia-based arm of CBRE’s Net-Lease Properties team— closed 62 properties in 2019, totaling more than $329 million, which is a 31% increase in dollar volume over 2018. The team is well-positioned to have another milestone year in 2020, with over 60 properties currently on the market and nine under contract, equaling nearly $240 million.
Completed 2019 transactions, most of which are classified as “net lease,” were a mix of restaurants, convenience stores/gas stations, multi-tenant centers, discount stores, auto parts stores, bank branches and drug stores, spanning across 13 states. The property sales included 13 gas/convenience and auto stores, 10 discount stores and 11 restaurants. Noteworthy transactions included the $24 million sale of the Wawa and Davita located in the Public Ledger Building in Philadelphia; LA Fitness in Fort Washington, PA which sold for more than $9 million; and a $4.2 million McDonald’s sale in Wyomissing, PA.