Necessity Retail REIT Sells 44 Bob Evans Properties For $93M In Retail Portfolio Sale | The Necessity Retail REIT, Inc. sells retail portfolio for $93,000,000 | Retail | Sale

Summary

Sale

PENNSYLVANIA

Retail

The Necessity Retail REIT, Inc has successfully sold 44 Bob Evans restaurant properties as part of its strategic plan to optimize its portfolio and reduce exposure to fast casual dining assets. The sale price for this portfolio of properties amounted to $93 million.

Summary of transaction details

Property Type: Retail
Transaction Amount: $93,000,000
Address: Portfolio
Market: Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia & Maryland

The seller in this transaction was Michael Weil, representing The Necessity Retail REIT, Inc. The sale of these Bob Evans restaurant properties aligns with their strategy to optimize their real estate holdings. By divesting from fast casual dining assets, they can focus on other areas of their portfolio.

Details

Deal Summary

SOLD

IMAGE: Michael Weil DATE: 07/05/2023 ADDRESS: Portfolio MARKET: Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia & Maryland ASSET TYPE: Retail SELLER: The Necessity Retail REIT, Inc - Michael Weil SALE PRICE: $93,000,000 NOTE: Necessity Retail REIT has sold 44 Bob Evans restaurant properties for $93 million as part of its strategy to reduce exposure to fast casual dining assets and optimize its portfolio.

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AddressThe Necessity Retail REIT, Inc. sells retail portfolio for $93,000,000

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