PRESS RELEASE Huntsville, AL – October 7, 2021
NAI Chase Commercial Real Estate Represents Multi-Million Dollar Sale of Former Golden Corral Restaurant Building
HUNTSVILLE, Alabama – October 7, 2021– NAI Chase Commercial Real Estate, an office of NAI Global, a leading global commercial real estate brokerage firm, announced today that it represented the sale of 12,450 Sq. Ft. former Golden Coral Restaurant Building located at 4920 University Drive in Huntsville, Alabama owned by a New York Investor. Vanessa Morris and Mark Elrod with NAI Chase Commercial represented the seller.
“Selling a property in the difficulties created by the COVID-19 pandemic was a stressful and a volatile situation for the property owner. The focus for many restaurants became smaller venues requiring a drive thru and/or outdoor seating, neither of which were attributes to this property. The owner lost a national credit tenant paying very strong rent, and the intensity level was high to maintain lost rent and property value. In the end we sold a vacant property very close to the original purchase price while occupied. This was a great team win”, said Mark Elrod, Sr. Vice President, Retail of NAI Chase Commercial Real Estate.
“This sale verifies the attraction to Huntsville and the growth this city is experiencing and the property’s location”, said Vanessa Morris, Retail Specialist of NAI Chase Commercial Real Estate. “This sale is the latest of several recent major transactions we’ve represented in North and Central Alabama, demonstrating a clear demand for retail and other types of commercial properties.”
ABOUT NAI CHASE COMMERCIAL
NAI CHASE COMMERCIAL, an Accredited Management Organization with its professional staff of real estate brokers with offices in Huntsville and Birmingham, Alabama provides Retail, Office and Industrial Commercial Property Brokerage, Leasing and Sales, Commercial Property Development, Commercial Property Management, Investment Property Brokerage, Construction Management Consulting, and Building Renovation Services. For more information on NAI Chase Commercial, please visit www.chasecommercial
ABOUT NAI GLOBAL
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe, Africa, and Asia Pacific, with over 6,700 local market professionals, managing in excess of over 1.15 billion square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.