Hurd Real Estate Services Inc. has acquired seven Hy-Vee Inc. grocery stores and five convenience stores in a three-state area under a sale and lease-back arrangement that is a specialty for the West Des Moines-based brokerage.
Hurd paid a total of $82.35 million for the properties in Iowa, Nebraska and Illinois. Richie Hurd, vice president of the company founded by his father, Richard, said he could not discuss details of the leases.
The deal increases Hurd's portfolio of Hy-Vee properties to 13 grocery stores and 10 convenience stores in five states. The company also owns properties in Minnesota and Missouri.
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