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Business Observer Friday, Jan. 14, 2022 7 months ago

Miami-based laundry provider sells six facilities — two on Gulf Coast — for almost $62 million

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Crown Linen sells properties in Bradenton and Fort Myers along with three others in Florida and one in Georgia
by: Louis Llovio Commercial Real Estate Editor

A Philadelphia real estate investment company has bought six laundry facilities, including two on the Gulf Coast, from a Miami-based laundry service.

EQT Exeter paid $61.75 million to buy the properties from Crown Linen. The facilities were a part of the company’s real estate portfolio.

The two Gulf Coast properties include a 43,700-square-foot facility at 3307 Hanson Street in Fort Myers and a 34,164-square-foot facility at 6011 31st St. E. in Bradenton. EQT paid $10.3 million for the two — $5.7 million for the Fort Myers property and $4.6 million for the one in Bradenton.

The other properties are in Atlanta, Orlando, Haines City and Miami.

According to a statement from Cushman & Wakefield, Crown Linen will continue to lease the facilities.

Crown Linen is a commercial laundry company that specializes in the hospitality industry.   

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