Net Lease

Faris Lee Brokers $11.3M Sale of Sprouts-Occupied Retail Property in Folsom, California

by Amy Works November 18, 2022

FOLSOM, CALIF. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom. VR Folsom, an Orange County-based private family office, sold the asset to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, while Infinity Investment Properties represented the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, triple-net lease with 10 years remaining on the term. The grocery store asset is located adjacent to Target, Lowe’s Home Improvement Warehouse and Trader Joe’s.

November 18, 2022

Acquisitions California Net Lease Restaurant Retail Western

Storm Properties Sells Aldi-Anchored Redondo Plaza in Gardena, California for $15.1M

by Amy Works October 26, 2022

GARDENA, CALIF. — Storm Properties has completed the disposition of Redondo Plaza, a grocery-anchored retail center located at 1550 W. Redondo Beach Blvd. in Gardena. A private 1031 exchange buyer acquired the asset for $15.1 million. Built in 2002 and renovated in 2018, Redondo Plaza features 28,000 square feet of retail space. Aldi anchors the property with 11.5 years remaining on its existing triple-net lease. At the time of sale, the property was fully occupied. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL Retail Capital Markets Investment Sales and Advisory team represented the seller in the deal.

October 26, 2022

Acquisitions California Net Lease Restaurant Retail Western

SRS Real Estate Partners Negotiates $6.2M Sale of Two Retail Properties in Chino, California

by Amy Works October 24, 2022

CHINO, CALIF. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976 at 11901 Central Ave., the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016 at 12005 Central Ave., the 3,796-square-foot, Carl’s Jr.-occupied property sold for $3.7 million. The tenant has about 12 years remaining on its corporate lease. Matthew Mousavi and Patrick Luther of SRS National Net Lease Group represented the seller in the transactions.

October 24, 2022

Acquisitions California Net Lease Retail Western

Faris Lee Negotiates $11.1M Sale of Bank of America-Occupied Retail Building in Hawthorne, California

by Amy Works October 12, 2022

HAWTHORNE, CALIF. — Faris Lee Investments has arranged the sale of a retail building located at 12547 Hawthorne Blvd. in Hawthorne. An Orange County-based private office group sold the asset to the City of Hawthorne for $11.1 million, or $861 per square foot. Bank of America occupies the 12,919-square-foot, single-tenant building on an absolute triple-net lease. Shaun Riley, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Chris Beck of Newmark represented the buyer in the deal.

October 12, 2022

Acquisitions Massachusetts Net Lease Northeast Retail

SRS Arranges $16.1M Sale of Metro Boston Retail Property Leased to CVS

by Taylor Williams October 11, 2022

WATERTOWN, MASS. — SRS Real Estate Partners has arranged the $16.1 million sale of a 14,400-square-foot retail property located in the western Boston suburb of Watertown. The property was built in 2016 and is leased to CVS on a triple-net basis. Kevin Held of SRS represented the seller, a West Coast-based family trust, in the transaction. Josh Kanter of Marcus & Millichap represented the buyer, a Massachusetts-based private investor that acquired the asset via a 1031 exchange.

October 11, 2022

Acquisitions Colorado Net Lease Retail Western

Blue West Capital Negotiates $4.4M Sale of Firestone-Occupied Property in Colorado Springs

by Amy Works October 3, 2022

COLORADO SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the asset to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.

October 3, 2022

Acquisitions California Net Lease Restaurant Retail Western

SBH Real Estate Group Divests of Pollo Campero-Occupied Restaurant Property in Covina, California

by Amy Works September 29, 2022

COVINA, CALIF. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.

September 29, 2022

Acquisitions California Net Lease Retail Western

SBH Real Estate Group Sells 7-Eleven-Occupied Property in Gardena, California for $6.9M

by Amy Works September 2, 2022

GARDENA, CALIF. — SBH Real Estate Group has completed the disposition of a commercial property located at 3121 Marine Ave. in Gardena. Masuda Investments acquired the asset for $6.9M. 7-Eleven occupies the building on a 15-year corporate ground lease. The asset includes a 3,000-square-foot convenience store and six gas station islands. The tenant opened for business in early 2022. Jeremy McChesney of Hanley Investment represented Eric Silverman of SBH Real Estate Group, while Trevor Morse and Chris Kostanecki of CPPRE represented the buyer in the deal.

September 2, 2022

Acquisitions California Net Lease Retail Western

SBH Real Estate Divests of Triple-Net Leased Car Wash Property in Gardena, California

by Amy Works September 1, 2022

GARDENA, CALIF. — SBH Real Estate has completed the sale of a triple-net leased retail asset located at 15015 Crenshaw Blvd. in Gardena. KOAM Property Investment purchased the property for $3.5 million. Super Star Car Wash signed a 25-year triple-net ground lease for the property. The location opened for business in early 2022 and the tenant has invested more than $3 million into the location. Jeremy McChesney of Hanley Investment Properties represented the seller, Eric Silverman of SBH Real Estate, while Frank Choi of Win Realty & Properties represented the buyer in the transaction.

September 1, 2022

Acquisitions California Net Lease Retail Western

Stan Johnson Negotiates Acquisition of 56,000 SF Retail Property Leased to Target in Huntington Park, California

by Amy Works August 31, 2022

HUNTINGTON PARK, CALIF. — Stan Johnson Co. has brokered the purchase of a freestanding retail property located at 5731 Bickett St. in Huntington Park, just southeast of downtown Los Angeles. A New York-based private investor acquired the asset for $48.7 million. Principal Life provided acquisition financing. Developer Shane Cos. is slated to complete the 56,000-square-foot building in January 2023. Target has leased the property under a long-term, triple-net lease. Situated on 4.1 acres, the site will feature a Starbucks Coffee, Tesla charging station and an urban-format Target. Jason Maier of Stan Johnson Co. represented the buyer, while Alvin Mansour of The Mansour Group at Marcus & Millichap represented the undisclosed seller in the transaction.

August 31, 2022

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