Pinnacle Announces The Sale of Absolute Net Lease Red Lobster
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 8,479 square foot restaurant building located at 1604 N State Route 50 in Bradley, IL. The property, occupied by Red Lobster, was sold for $2,343,750 on August 11, 2023. Cody Stambaugh and Liz Morgan with The Morgan Stambaugh Group represented the Buyer is the transaction.
“The acquisition of the Red Lobster in Bradley, IL is one step in finalizing the Buyers 1031 Exchange. The current state of the lending market made financing the property challenging but we used our relationships and financed the acquisition through a local Life Company in the Chicago area,” stated Cody Stambaugh, Senior Advisor with The Morgan Stambaugh Group.