The Somersett Town Center Retail building closed escrow yesterday. It looks like only the north building (A) was included in the sale. The recorded sale price was $1,050,000, not too far off half the $2.4M asking price for both buildings, and right at $100/SF. The buyer is CAV Somersett LLC, an entity only registered with the Secretary of State on 7 May 2012. A quick search shows that the officers of CAV Somersett are in fact Somersett residents.
Interesting that Heritage Bank loaned $1,566,000 on the property. Most likely, future tenant improvements are included in this wrap financing.
No word on the fate of the south building (B). Future expansion for the memory care facility that is coming to Town Center on the vacant retail pad?