99 Restaurant properties in Fitchburg & Auburn sell for $5M
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The 99 Restaurant & Pub in Fitchburg
Properties home to two 99 Restaurant & Pubs in Auburn and Fitchburg sold to Essential Realty Properties Trust, based in Princeton, N.J., for a total of nearly $5 million, according to the Worcester Registry of Deeds.
Both restaurants remain open. The transactions were for the properties housing the businesses, but not the businesses themselves.
The Auburn location on Southbridge Street, which sold for $2.83 million, is assessed at $1.14 million by the Town of Auburn.
Sold for $700,000 less than the Auburn restaurant at $2.13 million, the Fitchburg building on Summer Street is assessed by the City of Fitchburg at $752,800 and is roughly 5,800 square feet. It last sold in 2001 for $2.1 million.
Sales for both parcels closed July 19, according to the deeds.
The buyers, Essential Realty Properties Trust, specialize in single-tenant properties leased to service-oriented companies, according to the company website.
Both properties were sold by Double 9 Equity 3 LLC, which is registered to New York real estate investors U.S. Realty Advisors, LLC.
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