Long I land shopping center sold by WRA Properties, Inc.Frank I. Chiarello, president of WRA WRA Wisconsin Realtors Association (Madison, WI) WRA War Relocation Authority (US WWII) WRA Western Reserve Academy (Hudson, Ohio) Properties, Inc., announces that they teamed up with Patsis Co. and Manheim Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. to sell a strip mall strip mall n. A shopping complex containing a row of various stores, businesses, and restaurants that usually open onto a common parking lot. Noun 1. located on Merrick Road Merrick Road, named Merrick Boulevard inside New York City, is a road running from Jamaica, Queens, New York east through Merrick, New York to the line between Nassau and Suffolk Counties, where it becomes Montauk Highway. in Seaford, Long Island. Kenmore Plaza is a 25,000 square-foot center currently anchored by Blockbuster Video, a national rated tenant, and Larry's Golf, a local chain. The other six tenants consist of two restaurants, a dry cleaner, deli and nail salon A nail salon is a beauty services establishment that offers nail care services such as manicures, pedicures, and nail enhancements primarily. Often, nail salons also offer skin care services. There are approximately 38,000 nail salons in the U.S. . The property, which sold for better than a 12 percent cap, showed over $330,000 on a free and clear basis. Given the financing available, the new owner will realize over a 16 percent cash-on-cash sheltered return. The new owner was quoted as saying, "Larry's Golf is rented under market; given the size of the store and the fact the lease expires in four years, there is substantial upside to increase cash flow." The annual base rent and expense reimbursements are over $440,000. Joseph Leuzzi of Breger, Gorin & Leuzzi represented the purchaser. |
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