According to Arnold Peck, Robert Cole, senior vice president of Arnold Peck's Commercial World, brokered the $1.4 million sale of a recently closed Hollywood Video located on Queen St. The buyer, 1447 Chapel LLC, purchased the property located at the signalized intersection on a pad site, in front of Price Chopper Supermarket and a 70,000 s/f shopping center. The new owner with a unique marketing campaign will attract national tenants to add to the strategic location on Queen St.
The seller was represented by Carl Berman of NAI Elite. Robert Cole and Arnold Peck were instrumental in writing a new 10-year lease with Wendy's. Cole and Peck also restructured Cardio Express Gym's lease and assisted to modernize and renovate their facilities. The landlord contributed to the renovations.