REBusinessOnline

Realty Income Completes Spin-Off of Orion Office REIT

SAN DIEGO AND BALTIMORE — Realty Income Corp. (NYSE: O) has completed the spin-off of substantially all of its office assets into Orion Office REIT Inc. (NYSE: ONL), a new, independent, publicly traded REIT.Orion Office REIT specializes in the ownership, acquisition and management of a diversified portfolio of mission-critical and corporate headquarters office buildings in high-quality suburban markets across the United States. The portfolio is leased primarily on a single-tenant, …

Faris Lee Arranges $4.2M Sale of CVS-Occupied Building in Trabuco Canyon, California

TRABUCO CANYON, CALIF. — Faris Lee Investments has arranged the sale of a freestanding retail building located in Trabuco Canyon. Southern California-based ValueRock Realty acquired the property from an undisclosed seller for $4.2 million.CVS/pharmacy occupies the property, located at 21572 Plano Trabuco Road, on a triple-net lease basis. Rich Chichester and Don MacLellan of Faris Lee, in partnership with John Cumbelich of Cumbelich & Associates, represented the seller and buyer in …

SRS Real Estate Partners Negotiates $8.2M Sale of Raising Cane’s-Occupied Property in San Bernardino

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a restaurant building located at 1857 S. Tippecanoe Ave. in San Bernardino. An affiliate of Red Mountain Group sold the property to a San Diego-based high-net-worth investor for $8.2 million.Raising Cane’s Chicken Fingers occupies the 4,086-square-foot property, which was built in 2017 on 1.2 acres and has more than 11 years remaining on its absolute triple-net lease.Matthew Mousavi and Patrick Luther of …

Marcus & Millichap Brokers Sale of TopGolf-Leased Property in Albuquerque

ALBUQUERQUE, N.M. — Marcus & Millichap has arranged the sale of a retail building located at 1600 Desert Surf Circle NE in Albuquerque. A limited liability company acquired the asset for an undisclosed price. The name of the seller was not released.TopGolf occupies the 25,525-square-foot property, which was built in 2021, on a net-lease basis. Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office, along with Matthew Reeves of the firm’s New Mexico office, handled …

Marcus & Millichap Arranges Sale of Starbucks-Occupied Property in Oakland

OAKLAND, CALIF. — Marcus & Millichap has brokered the sale of a retail building located at 470 Lake Park Ave. in Oakland. A limited liability company sold the asset to an undisclosed buyer for $3.5 million.Starbucks Coffee net leases the 1,600-square-foot property, which was built in 1968. Chris Lind and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller in the deal. David Nelson of Marcus & Millichap’s Oakland office was broker of record for the …

Faris Lee Negotiates $5.4M Sale of CVS-Occupied Building in Bakersfield, California

BAKERSFIELD, CALIF. — Faris Lee Investments has arranged the sale of a freestanding retail property located at 2690 Mount Vernon in Bakersfield. Southern California-based Intertex Property Advisors acquired the building from a Los Angeles-based developer for $5.4 million.The property is absolute triple-net leased to CVS Y Mas, which has occupied this location for 48 years. Other tenants include 99 Cents Only, Chase Bank, Arco AM/PM and Denny’s.Sean Cox and Jeff Conover of Faris Lee …

Marcus & Millichap Brokers $3.3M Sale of Walgreens-Occupied Property in Glendale, Arizona

GLENDALE, ARIZ. — Marcus & Millichap has arranged the sale of a retail building located at 8309 W. Glendale Ave. in Glendale. A limited liability company sold the property to an undisclosed limited liability company for $3.3 million.Walgreens occupies the 15,022-square-foot property on a net-leased basis. The building was construction in 2001.Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the

Hanley Investment Arranges $20.7M Sale of Eight Single-Tenant Net-Leased Retail Properties in Houston Area

HOUSTON — California-based brokerage firm Hanley Investment Group Real Estate Advisors has arranged the sale of eight single-tenant net-leased (STNL) retail properties located throughout the Houston area. Louetta Automotive & Tire Service occupies all the properties, which sold to eight separate private investors for a combined price of $20.7 million. Louetta Automotive is now operating as Sun Auto Tire & Service and is backed by Los Angeles-based private equity firm Leonard Green …

Stanford Hotels Group Sells Walgreens-Occupied Retail Building in Huntington Beach for $11.3M

HUNTINGTON BEACH, CALIF. — Stanford Hotels Groups has completed the sale of a single-tenant retail property located at 19001 Brookhurst St. in Huntington Beach. A private 1031 exchange investor acquired the asset for $11.3 million.Walgreens occupies the 11,838-square-foot building on a triple-net, long-term lease. The tenant has occupied the property, which sits on 1.3 acres, since it was constructed in 2007.Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the …

Rising Deal Volume Favors Sellers in Net-Lease Investment Market, Says InterFace Panel

NEW YORK CITY — As more players enter the market, rising demand for net-leased commercial properties in the United States is leading to higher prices and lower capitalization rates, making it a good time to be a seller of such assets.According to a new report by national brokerage firm The Boulder Group, average cap rates for net-leased retail, office and industrial properties fell by 22, 15 and 19 basis points, respectively, between the second and third quarters of this year. The number …

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties