DENVER, Oct. 15, 2013 /PRNewswire/ -- Brian Watson, the founder and president of Denver-based Northstar Commercial Partners, today announced the purchase of an 11-property portfolio of former LubePro's facilities in Illinois and Wisconsin. A limited liability company, created by Northstar, has purchased the 11-property portfolio.
Northstar worked alongside Grease Monkey on the transaction as they purchased LubePro's operating company, and Northstar acquired the owner-occupied real estate to facilitate the deal. Upon the purchase of the properties, Northstar finalized long-term, 15-year NNN leases with Grease Monkey Midwest, LLC, a subsidiary of Grease Monkey International, Inc., and one of the nation's largest franchisors of automotive preventive maintenance centers.
"We are very pleased to work with Grease Monkey in their acquisition of LubePro's. Northstar has worked with many corporations in buying their vacant or leased real estate and assisting with M&A transactions," said Watson, who led the investor group that bought the 11-property portfolio, and who has the option to purchase additional facilities from the previous owner in the near future. Watson enjoys working with companies throughout the United States on commercial real estate opportunities that they may have. "Northstar can help companies maximize the value of their real estate holdings, or help facilitate M&A transactions, by addressing the real estate component of a deal. This is beneficial for all parties involved," said Watson.
Northstar was founded by Watson in 2000, specializes in acquiring opportunistic commercial real estate assets throughout the United States, and has been very active in this economic environment. For more about Northstar Commercial Partners, see www.northstarcp.com.
Northstar Commercial Partners
SOURCE Northstar Commercial Partners