Realty Income Acquires 18-Property Retail Portfolio From Miller Bros For $22.7M

Realty Income acquired a retail portfolio consisting of 18 properties located in the markets of Tioga, Bangor, Fawn Grove, Jersey Shore, Bellefonte, Berrysburg, Greencastle, Schellsburg, Oxford, Milan, Hazle Township, Newburg, Burlington, and Beaver Meadows in Pennsylvania, as well as Amherst, Waynesburg, Lorain, and Vermilion in Ohio. The portfolio encompasses a total area of 174,078 square feet, with a sale price of $22,700,000, resulting in a price per square foot of $130.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $22,700,000
• Buyer: Realty Income
• Seller: Miller Bros
• Brokers: Michael Shover, Matthew Gorman, Thomas Finnegan, Robert Thompson, Nick Holtz - CBRE
• Square Footage: 174,078
• Price Per Square Foot: $130

CBRE's brokers representing both the seller, Miller Bros, and the buyer, Realty Income, are Michael Shover, Matthew Gorman, Thomas Finnegan, Robert Thompson, and Nick Holtz. This collaboration facilitated the transaction and contributed to the seamless transfer of the retail portfolio.