CBRE Brokers Sales of Two Smart & Final Grocery Stores in Central California Totaling $14.8M
FRESNO AND PORTERVILLE, CALIF. — CBRE has negotiated the sales of two Smart & Final grocery stores in Central California. A private investor acquired the properties as corporate leasebacks for a combined total of $14.8 million.
Matt LoPiccolo of CBRE and John Glass of Marcus & Millichap represented the seller, Smart & Final, a Los Angeles-based grocery chain with more than 300 locations in the western United States. Jerry Suyderhoud of Newmark Knight Frank represented the buyer in the deal.
The properties are a 33,150-square-foot Smart & Final, located at 2425 Blackstone Ave. in Fresno, and a newly built, 31,341-square-foot property at 1419 W. Olive Ave. in Porterville. The Fresno asset was built in 1991 and renovated in 2018.