A group of local physicians has purchased a roughly 13,000-square-foot building at 15817 Old Hammond Hwy., near O’Neal Lane, for approximately $2.4 million.
Old Hammond Real Estate LLC, represented by Sundararama Vatsavai, bought the property from Delta Growth Tire 2 LLC, represented by Matthew Mullins, in a deal that closed on Monday. Jessie Babcock of Beau Box Commercial Real Estate, who represented the purchasers, says the physicians bought the three-acre site off Old Hammond Highway as an investment.
A tenant—TCi Tire Centers—is moving into a building that was built on the site, she adds.
“It’s an attractive investment property because it is a quality tenant under a long-term net lease,” she says, adding the location near the Interstate 12 corridor and new construction at the site appealed to the investors.
TCi is relocating to the Old Hammond site from its current location at 376 N. Foster Drive. The tire shop also has a location on Exchequer Drive. The property was not on the market, says Babcock, who approached Mullins to discuss the possibility of her clients acquiring it.
“We feel like it was a good acquisition for the buyer,” she says.
—Alexandria Burris
