Hanley Investment Group Real Estate Advisors has completed the sales of 10 net-leased investments occupied by Valvoline in Kansas and Missouri to 10 separate buyers. The individual sales represented a total of 26,000 square feet for a combined value of $17.3 million.
Hanley Investment Group, in association with Ferguson Properties based in Kansas City, Missouri, represented the seller, an Arizona-based private investor who was the prior operator of the locations in nine of the 10 transactions.
The single-tenant Valvoline-occupied properties were located in Overland Park, Olathe, Mission and Wichita, Kansas; three in Kansas City, Missouri; and another in Raytown, Missouri.
Hanley Investment Group, in association with Ferguson Properties, also represented the same Arizona-based seller in the sale of a 3,360-square-foot, two-tenant investment property occupied by Valvoline and Papa Murphy’s in Independence, Missouri.
In the 10th transaction, Hanley Investment Group, in association with ParaSell, Inc., represented a different seller in the sale of a single-tenant Valvoline-occupied property in Kansas City, Missouri. The seller was a private investor based in Kansas City and the buyer was based in Overland Park.
This is Hanley Investment Group’s second major non-sale leaseback, auto-service portfolio sold as individual net-leased investments in the last 24 months. Previously, the firm arranged the sales of eight single-tenant, net-leased investments for a combined total value of $20.71 million occupied by Louetta Automotive and Tire Service (now operating as Sun Auto Tire and Service) in the Houston metro area in Texas. Like the Valvoline transaction, the Louetta operator was purchased by a larger corporate entity, but the operator retained the real estate as part of the business transaction.
Hanley Investment Group has sold 54 auto repair and service center investments in the last 48 months, valued at $150 million.
