Photo by Shutterstock
CHATTANOOGA, TN—Hutton, a locally-based commercial real estate, development and investment company, has closed on the sale of a single tenant retail portfolio for $34.4 million. The portfolio consists of 19 properties in 13 states net leased to national tenants.
The company will use the proceeds to expand its multifamily and self-storage development programs, as well as fund the company's investment acquisition activities in 2020.
"It is extremely exciting to close out a strong year with this substantial portfolio sale, while also launching and growing our multifamily and self-storage divisions," said CEO Karen J. Hutton, in prepared remarks.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
