by Dan Rafter
Lexington, Ken.-based NAI Isaac provides yet more evidence that the commercial real estate industry, despite its remaining challenges, remains in recovery mode. The company had a busy and profitable October.
Al Isaac, president of NAI Isaac, told Midwest Real Estate News that his brokerage closed $32 million worth of transactions in the Lexington area in October.
That includes a few big ones, including the sale NAI Isaac brokered of South Elkhorn Village, a more than 51,113-square-foot retail center in Lexington. South Elkhorn Village, LLC purchased the center.
South Elkhorn Village is located at 4371 – 4383 Old Harrodsburg Road, and is anchored by Ramsey’s Restaurant, Coffee Pub and The S-E-C Sports Pub.
Isaac and Paul Ray Smith of NAI Isaac Commercial Properties represented the seller, TB Managed Assets III, LLC, in this transaction. Billy Smith of The Gibson Company represented the buyer.
“We had some well-priced retail assets that sold in this low-interest-rate environment and a couple of larger office leases that were finalized,” Isaac said about his company’s busy October.
Most of NAI Isaac’s transactions during the month where in retail and office. The company also brokered a small number of industrial transactions, Isaac said.