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BAKERSFIELD, CALIF. — San Diego-based Torrey Financial Group has sold a single-tenant retail property located at 1125 Olive Drive in Bakersfield to a Los Angeles-based investor for $2.6 million.
The 8,302-square-foot, newly renovated building was originally constructed in 2013. AutoZone occupies the property on a new 15-year triple-net lease featuring 10 percent rent increases every five years.
Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller in the deal, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer.