Wednesday, August 4, 2010

NAI Isaac Brokers $3.1M Sale, Manages/Leases Property

NAI Isaac is pleased to announce the sale of Barren River Plaza in Glasgow, KY to a local investment group. Barren River Plaza is a 245,300 SF shopping center anchored by Peeble’s department store. Other retailers include H&R Block, Hallmark, and Advance America Cash Advance.

NAI Isaac represented the seller, LBUBS 2002-C1 Glasgow, LLC in this sale. In addition, NAI Isaac served as the leasing and management agents for Barren River Plaza for Seller. The property was sold in 2 parcels for a total of $3,175,000 to ByPass Development, LLC & Barren River Plaza Project, LLC.

NAI Isaac has been retained as the exclusive leasing and managing agents of the property by the new ownership group. NAI Isaac’s property management and leasing team will work with the new ownership group in revitalizing and enhancing the tenant mix and maintenance of the center. NAI Isaac’s Paul Ray Smith, Jim Kemper and Joe Cornelius, will be the leasing and management team assigned to the project.

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