REBusinessOnline

SRS Directs $6M Sale of Rite Aid-Occupied Asset in Kingston, Washington

KINGSTON, WASH. — SRS Real Estate Partners has negotiated the sale of a single-tenant retail property, located at 27000 Miller Bay Road NE in Kingston. A U.S.-based investment fund sold the asset to a California-based family office for $6 million. Built in 2007 on 2.2 acres, the 17,272-square-foot building includes a drive-thru. Rite Aid currently occupies the property under a corporate-guaranteed triple-net lease with Rite Aid Corp. There are nine years remaining on the lease. Ryan …

SRS Arranges $5.3M Sale of Grocery Outlet Bargain Market in Riverside, California

RIVERSIDE, CALIF. — SRS Real Estate Partners’ National Net Lease Group is arranged the sale of a freestanding, single-tenant property located on 1.9 acres at 3490 Madison St. in Riverside. A Newport Beach, Calif.-based private developer sold the property to a Newport Beach-based physician for $5.3 million. Grocery Outlet Bargain Market occupies the 17,889-square-foot retail property on a 15-year triple-net lease. Patrick Luther and Matthew Mousavi of SRS Real Estate Partners …

Gerdom Realty Brokers Sale of Property Net Leased to Sprint in Madison Heights, Michigan

MADISON HEIGHTS, MICH. — Gerdom Realty & Investment has brokered the sale of a single-tenant retail property net leased to Sprint in Madison Heights for an undisclosed price. The 3,038-square-foot building is located at the southwest corner of 12 Mile and Dequindre roads. Michael Murphy and Tjader Gerdom of Gerdom Realty marketed the property for sale and procured the buyer, a local investor.

Boulder Group Arranges $12.9M Sale of Property Net Leased to Jewel-Osco in Illinois

LOCKPORT, ILL. — The Boulder Group has arranged the $12.9 million sale of a single-tenant property net leased to Jewel-Osco in Lockport, 30 miles southwest of Chicago. The 67,450-square-foot building sits on 10.3 acres at 16625 W. 159th St. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a private real estate investment company based in the Southwest. A private investor completing a 1031 tax-deferred exchange purchased the

Marcus & Millichap Arranges $3.7M Sale of Three Net Leased Properties in Marquette, Michigan

MARQUETTE, MICH. — Marcus & Millichap has arranged the sale of three net leased properties in Marquette for $3.7 million. The properties include an 84,180-square-foot Kohl’s, an Applebee’s pad site and another pad site occupied by Verizon Wireless and H&R Block. The buildings are outparcels of Westwood Mall. Mark Taylor, Shannon Bona and Brian Sy of Marcus & Millichap marketed the portfolio on behalf of the seller, a private development company. Taylor, along with Donovan …

Boulder Group Arranges $14.8M Sale of Property Net Leased to Jewel-Osco in Elgin, Illinois

ELGIN, ILL. — The Boulder Group has arranged the sale of a single-tenant property net leased to Jewel-Osco in Elgin for $14.8 million. The 69,129-square-foot building, located at 1660 Larking Ave., was remodeled in 2009. Jewel-Osco has approximately 19 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the transaction. A Los Angeles-based real estate firm completing a 1031 tax-deferred exchange purchased the asset. A Southwest-based private …

Boulder Group Brokers $12.8M Sale of Property Net Leased to Jewel-Osco in Barrington, Illinois

BARRINGTON, ILL. — The Boulder Group has brokered the sale of a 59,885-square-foot single-tenant property net leased to Jewel-Osco in Barrington for $12.8 million. The building sits on a 3.8-acre parcel at 150 W. Main St. Randy Blankstein and Jimmy Goodman of Boulder represented both the buyer and the seller. A Southwest-based private real estate investment company sold the asset to a Midwest-based family completing a 1031 tax-deferred

Adelphia Properties Brokers $4.4M Sale of Property Net Leased to CVS in Taylorville, Illinois

TAYLORVILLE, ILL. — Adelphia Properties has brokered the $4.4 million sale of a single-tenant property net leased to CVS Pharmacy in Taylorville, about 25 miles southeast of Springfield. The 13,255-square-foot building is located at 401 N. Webster St. George Spirrison and Simeon Spirrison of Adelphia represented the buyer, a private investor. CVS has more than 22 years remaining on its

Boulder Group Arranges $2M Sale of Property Net Leased to Shopko Hometown in South Dakota

STURGIS, S.D. — The Boulder Group has arranged the sale of a single-tenant retail property net leased to Shopko Hometown in Sturgis for $2 million. The 30,500-square-foot building is located at 2105 Lazelle St. in western South Dakota. There are approximately 13 years remaining on the triple net lease. Randy Blankstein and Jimmy Goodman of the Boulder Group represented the seller, a Texas-based real estate investment trust. A Wyoming-based real estate investor purchased the

Boulder Group Arranges $16M Sale of Property Net Leased to Jewel-Osco in Oak Lawn, Illinois

OAK LAWN, ILL. — The Boulder Group has arranged the $16 million sale of a single-tenant property net leased to Jewel-Osco in Oak Lawn, a southwest suburb of Chicago. The 47,370-square-foot property is situated on 3.6 acres at 4650 W. 103rd St. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the sale. A Southwest-based private real estate investment company sold the asset to an investor based in

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