Investor buys former Fratelli's, Horner Honda in Salisbury
Two high-profile commercial properties across the street from Salisbury University's main campus have been sold to a Berlin-based real estate investment firm.
Last month, A&M Family Group purchased Horner Honda for $925,000 and the former Fratelli's restaurant for $980,000. Both are within blocks of each other on the east side of South Salisbury Boulevard.
Maher Hafez, A&M's registered agent, said he is looking for businesses to lease space within the two buildings. Sprerry Van Ness, which brokered both sales, is representing A&M in its search for tenants.
Fratelli's moved to Snow Hill Road after a February 2014 fire damaged the South Salisbury location, which used to be a Mulligan's Sports Bar and Grill. Bud Horner had operated Horner Honda, a motorcycle dealership, for three decades.
Hafez's assets became a lot more liquid last December. He has ties to Y&M Commercial Realty, which sold the Food Lion-anchored shopping center on Stephen Decatur Highway in West Ocean City for $8.5 million, according to state of Maryland online real estate records.
The firm had bought the plaza from Food Lion in 2001 for $5.1 million.