Tuesday, November 15, 2016

Augusta National buys nearby music store for $5.35 Million ... presumably to get rid of it!

Photo: Google
Jay's Music Centre with Augusta National sitting behind it.
Apparently, there's a lot of money in music. Especially if you own property across the street from Augusta National Golf Club, home of the Masters tournament.
According to The Augusta Chronicle, an Augusta National Golf Club-affiliated real estate company has purchased Jay's Music Centre for $5.35 million. The store sits across the street and north of Augusta National, at the intersection of Washington Road and Old Berckmans Road. 
According to records, owner Doug Frohman and his family sold their 0.73 acre property to Berckman Residential Properties LLC on Oct. 13.
According to Richmond County real estate records, the purchased land and its 5,600 square-foot store was recently valued at $637,900 — about eight times less than what has been paid by Augusta National GC.
Frohman told The Chronicle that he wouldn't discuss terms of the sale but has to be out of the building by the beginning of December.
Augusta National did not immediately return a request for comment. Besides this newly acquired building, which presumably they intend to remove from the landscape, Augusta will also unveil a new media centre this April.



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