MIAMI, April 26, 2017 – Orion Ventures XII North, LLC, has completed the sale of a $4.491 million restaurant property in Newport News, Virginia. The TGI Friday’s location was part of a portfolio of restaurant properties owned by Orion Real Estate Group, a South Florida-based commercial brokerage and was acquired in December 2015.
“Our team has shown continued success in acquiring undervalued locations,” said Joe Sanz, CEO of Orion Real Estate Group. “We have a number of projects slated for disposition in the next few months all over the country and we are actively seeking single-tenant net-leased property to acquire.”
Steve Borysewich and Duane Comprosky of Orion’s Orlando office acted as brokers on the transaction. The buyer, QCA-NEWPORT NEWS, LLC, was represented by Raffi Karamian with Hogan Companies.
About Orion Real Estate Group
Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $2.5 billion in transactions.
Working with clients across the United States, the firm helps clients and their investors through all phases of real estate transactions from strategic planning and analysis to financing, negotiation and disposition. For more information visit www.orionmiami.com.