BOCA RATON, Fla., Sept. 10, 2012 /PRNewswire/ — Norton Herrick, Chairman of The Herrick Company, Inc. today announced that affiliates of The Herrick Company, Inc. one of the nation’s leading real estate investment firms, have sold their interest in the following properties:
- 38 motel properties nationwide leased to Motel 6 and guaranteed by Accor S.A
- 23 retail bank branches in Indiana and Kentucky leased to Old National Bank
- Corporate headquarters building in Evansville, Indiana leased to Old National Bank
- 27 distribution centers nationwide leased to Flowers Foods
- 181,000 square foot hospital in Indiana leased to Clarian Saxony Medical Center
- The above sales were part of four off market transactions which totaled approximately $550 Million.
In addition to these sales, The Herrick Company also announced the purchase of three off market transactions totaling $150 Million including 12 retail stores leased to Genuine Parts Company, 40 drug stores leased to CVS Caremark and 2.5 acres of oceanfront property zoned for condo / hotel in Pompano Beach, Florida.
“With these transactions, we have executed on our strategy to profitably dispose of certain assets and have successfully positioned the company for future growth” commented Norton Herrick, Chairman of The Herrick Company.
Herrick Company Organization
The Herrick Company, Inc. was formed more than 40 years ago. Since its formation, The Herrick Company, Inc. has completed transactions valued in excess of $4 billion dollars throughout the United States. More information can be found at www.TheHerrickCompany.com.
SOURCE The Herrick Company