Verizon Store

New Net Lease Investment Fund Purchases Verizon in Madison, OH.

NORTHBROOK, ILLINOIS, UNITED STATES, November 22, 2021 /EINPresswire.com/ -- Envoy Stable Income Fund, LLC (ESI Fund), a private real estate fund company, has acquired a Verizon store in Madison, OH. This marks the fourth acquisition for the ESI Fund.

Located at 5995 North Ridge Road in Madison, the 3,000 sq. ft. Verizon store is leased to Cellular Sales of Ohio, LLC, an operating subsidiary of Cellular Sales of Knoxville Inc (CSOK). Cellular Sales has over 795 stores in 40 states with over 7,200 team members nationwide. Total revenue in 2020 for CSOK was over $2.5 billion.

Verizon is the largest wireless telecommunications provider in the United States and operates one of the worlds’ most connected public Internet backbone networks, delivering solutions that let customers securely connect, communicate and collaborate around the globe. It fits in perfectly with ESI Fund’s strategy of buying properties that are essential for both the tenant and the surrounding community.

ESI Fund’s President Ralph Cram says, “Our tenant is one of the largest Verizon resellers in the country. We believe cellphone stores are essential retail as nearly everyone needs help with their smartphones at one point or another. Verizon is the largest mobile provider in the U.S. This store meets the needs of this Ohio market and is located near the area’s super Walmart store and draws from 20-mile radius.”

Envoy Fund Management, LLC, which serves as manager for the ESI Fund, will provide asset and property management services for the property. Mark Ruble at Marcus & Millichap represented the seller on the transaction.
 
ABOUT ENVOY STABLE INCOME FUND, LLC

Envoy Stable Income Fund, LLC is a private real estate fund that intends to own a diversified portfolio of net lease properties leased to commercial, retail, restaurant, service, medical and light industrial tenants. The fund will focus on sourcing completed build-to-suit developments and one-off acquisitions of properties that are long-term NNN-leased to creditworthy tenants.

The ESI Fund’s objective is focused on current income, preservation of capital and long-term capital appreciation. As of May 1st, 2021, the ESI Fund has purchased two properties with several more properties under contract. The companies expect for the fund to be fully invested within one year with an anticipated holding period of 4-5 years. As a real estate alternative for accredited income investors, the Fund aims to produce a stable quarterly income for investors throughout the holding period with a projected 9.0% total return for its investors.

The ESI Fund is managed by Envoy Fund Management, LLC, a wholly owned subsidiary of Envoy Net Lease Partners, LLC. To learn more about the ESI Fund please visit www.envoynnn.com/esif or contact Ralph Cram at 847.239.7250 or rcram@envoynnn.com. For acquisition inquiries, please contact Ron Max at rmax@envoynnn.com or (847) 634-7317.

ABOUT ENVOY NET LEASE PARTNERS, LLC

Envoy Net Lease Partners, LLC is a finance and asset management firm, based in the greater Chicago area, that acquires and finances single-tenant, net lease properties. In regard to financing properties, Envoy provides capital in the form of high-leverage construction loans, mezzanine debt and equity financing to developers of single-tenant, net lease properties nationwide. Since its inception in 2011, Envoy’s team of investment professionals has closed 105 transactions in excess of $325 million of total project costs for real estate developers and investors, in many cases up to 100% of the capital required to develop the properties. As manager, Envoy has led seven investment offerings related to the development of eight net lease properties and one investment offering of related to a sale/leaseback transaction. In total, Envoy has raised capital from more than 100 outside investors. To learn more please visit envoynnn.com.

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Ralph Cram
Envoy Net Lease Partners
+1 847-239-7250
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