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Wednesday, January 28, 2009

Former Steak and Ale Restaurant Grabs $1.9M

Source: CoStar Group

CNL Financial Group sold the former Steak and Ale restaurant in Memphis to a private partnership for $1.92 million, or about $305 per square foot.

The 6,298-square-foot restaurant at 6201 Poplar Ave. was built in 1979 in the East Retail submarket.

John Reed and Gary Shanks of The Shopping Center Group represented the buyer. Chicago-based auction firm NRC Realty Advisors represented the seller.

Details: Visit www.nrc.com/820 or call (800) 447-0672 for more information.