Pinnacle Announces The Sale of Absolute Net Lease Grease Monkey
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 2,640 square foot auto shop located at 315 Broad Street in Manchester, CT. The property, occupied by Grease Monkey (dba Economy Oil Change), was sold for $1,913,938 on September 14, 2023. Cody Stambaugh and Liz Morgan with The Morgan Stambaugh Group represented the Buyer is the transaction.
“The acquisition of the Grease Monkey in Manchester, CT is the final step in finalizing the Buyers 1031 Exchange. We were please to assist the buyer in the sale of the Fresenius in May that kicked off the 1031, the acquisition of a Red Lobster in August and the acquisition of the Grease Monkey in September to complete the exchange. The complete exchange and financing of the acquisitions was a result of our team tapping into all our recourses to access life company debt in Illinois and local bank debt in Connecticut,” stated Cody Stambaugh, Senior Advisor with The Morgan Stambaugh Group.