Net Lease

JLL Brokers $10.6M Sale of Three Retail Pads at Vista Terrace Marketplace in Vista, California

by Amy Works December 15, 2020

VISTA, CALIF. — JLL has arranged the sale of a portion of Vista Terrace Marketplace, a retail property in Vista. Black Lion Investment Group sold the asset to an undisclosed buyer for $10.6 million. The transaction included three retail pads occupied by O’Reilly Auto Parts, Dunkin Donuts, AT&T and Verizon Wireless. Daniel Tyner and Gleb Lvovich of JLL represented the seller in the transaction. Brian Pyke and Connor Stevens of Retail Insite handle the leasing on behalf of the owner. Black Lion still owns two pad site and the anchor building at the retail center.

December 15, 2020

Acquisitions Colorado Net Lease Retail Western

Pinnacle Real Estate Advisors Negotiates $5.1M Sale of Single-Tenant, Net-Leased Property in Colorado

by Amy Works December 7, 2020

THORNTON, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a single-tenant, net-leased asset located at 16255 Washington St. in Thornton. WashCo LLC sold the retail property for $5.1 million, or $669.41 per square foot. The name of the buyer was not released. Cory Sandberg of Pinnacle Real Estate Advisors represented the seller in the deal .

December 7, 2020

Acquisitions Arizona Net Lease Retail Western

Progressive Real Estate Partners Arranges $2.5M Sale of Sunrise Preschool Property in Arizona

by Amy Works December 4, 2020

GLENDALE, ARIZ. — Progressive Real Estate Partners has arranged the sale of a single-tenant property located at 5801 W. Mohawk Lane in Glendale. An Arizona-based private investor sold the building to a California-based private investor for $2.5 million. Sunrise Preschool occupies the 8,500-square-foot property on a triple-net-lease basis. The building was built in 1999 for the preschool, which Childcare Network owns. The daycare center caters to children six weeks to 12 years of age and offers a variety of programs for infants, toddlers and preschool students, as well as before- and after-school care. Brad Umansky and Mike Lin of Progressive Real Estate Partners, in cooperation with Ginger Orsi of S.J. Fowler Real Estate, represented the seller. John Eppers of Central Valley Properties represented the buyer in the deal.

December 4, 2020

Acquisitions California Net Lease Restaurant Retail Western

Calbay Development Sells Starbucks-Occupied Building in Fullerton for $6.2M

by Amy Works November 20, 2020

FULLERTON, CALIF. — Calbay Development has completed the disposition of a single-tenant restaurant building located at 1101 S. Harbor Blvd. in Fullerton. A Los Angeles-based high-net-worth buyer acquired the property for $6.2 million, or $2,067 per square foot. Constructed in 2020, the 3,000-square-foot property has a fully entitled drive-thru. Starbucks Coffee occupies the building and recently signed a 20-year, absolute, triple-net ground lease with no termination rights for the asset. Adam Friedlander of JLL Retail Capital Markets represented the seller in the deal.

November 20, 2020

Acquisitions California Industrial Net Lease Office Western

TJL Properties Sells East Bay Area Industrial, Office Facility for $50.1M

by Amy Works November 17, 2020

RICHMOND, CALIF. — TJL Properties has completed the disposition of a light industrial warehouse and office facility located in the East Bay community of Richmond. An institutional investor acquired the asset for $50.1 million. Situated on 12.3 acres at 700-702 National Court, the asset features 267,500 square feet of light industrial and office space. The property comprises a 250,500-square-foot industrial warehouse and a 17,000-square-foot office building. The industrial component features 22-foot clear heights and 15 dock-high, two grade-level and four rail doors. At the time of sale, the facility was triple-net leased to a beverage distribution company. Ryan Sitov, Tony Beatty, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.

November 17, 2020

Acquisitions Net Lease Oregon Retail Western

Stan Johnson Co. Arranges $5.7M Sale of Walgreens-Occupied Property in Keizer, Oregon

by Amy Works November 10, 2020

KEIZER, ORE. — Stan Johnston Co. has brokered the sale of a retail property located at 5000 River Road North in Keizer. A Los Angeles-based institutional buyer sold the asset to a Long Beach, Calif.-based private investor for $5.7 million. Originally constructed in 2008 on 1.6 acres, the property features 13,775 square feet of retail space. Walgreens occupies the building on a net lease including a 15-year base term with rent increases every five years. Pat Weibel and BJ Feller of Stan Johnson Co. represented the seller in the transaction.

November 10, 2020

Acquisitions Colorado Net Lease Retail Western

Taylor Street Brokers $7.8M Acquisition of Animal Clinic in Parker, Colorado

by Amy Works October 12, 2020

PARKER, COLO. — Taylor Street Advisors has arranged the purchase of Animal Emergency & Specialty Center, located at 17701 Cottonwood Drive in Parker. Woodridge Apartment Holdings acquired the single-tenant property from Veterinary Property Management for $7.8 million. Compassion-First Pet Hospitals occupies the 19,338-square-foot building with more than 10 years remaining on its triple-net lease. The building sits on a 69,696-square-foot lot. Jake Baratz and Boston Chauthani of Taylor Street Advisors represented the buyer, while Andrew Evans of Mathews Real Estate Investment Services represented the seller in the deal.

October 12, 2020

Acquisitions Net Lease New Jersey Northeast Retail

SRS Real Estate Arranges $6.7M Sale of Wawa Store in Roselle, New Jersey

by Taylor Williams September 21, 2020

ROSELLE, N.J. — SRS Real Estate Partners has arranged the $6.7 million sale of a retail asset that is occupied by convenience store chain Wawa in Roselle, located south of Newark. Patrick Nutt and Andrew Fallon represented the seller in the transaction. The buyer was an undisclosed private investor. The store opened in May 2019.

September 21, 2020

Acquisitions California Industrial Loans Net Lease Western

JLL Arranges $23.7M Acquisition Loan for Pellisier Logistics Center in Colton, California

by Amy Works September 4, 2020

COLTON, CALIF. — JLL Capital Markets has secured $23.7 million in acquisition financing for Pellisier Logistics Center, an industrial warehouse and distribution property located at 1901 W. Center St. in Colton. Marc Schillinger, Keith Rosso and Eric Boucher of JLL’s Debt & Structured Finance group in Century City, Calif., placed the two-year, fixed-rate loan with Thorofare Capital for the borrower, a privately owned apparel manufacturer. Loan proceeds were used to purchase the asset immediately upon completion by developer Hillwood Investment Properties, a Perot Co. The property was 100 percent leased simultaneously with closing for an initial lease term of 10 years, excluding two five-year extensions options at a fair-market, triple-net rate. Situated on 12.5 acres, the newly constructed, 232,588-square-foot Pellisier Logistics Center features 36- to 42-foot clear heights, 24 dock-high doors, 168 trailer parking spaces and 219 auto parking spaces.

September 4, 2020

Acquisitions Arizona Net Lease Retail Western

NKF Brokers $20.3M Sale of Target-Occupied Building in Phoenix

by Amy Works August 21, 2020

PHOENIX — Newmark Knight Frank (NKF) has brokered the sale of a retail building located at 1625 Camelback Road in Phoenix. An affiliate of Menin Development sold the asset to an undisclosed institutional buyer for $20.3 million. Target occupies the single-tenant, 50,428-square-foot property on a long-term net lease with fixed rental increases. The retailer opened the store, its first small footprint location in Arizona, in July 2017. Matt Berres, Samer Khalil and David Guido of NKF Net Lease Capital Markets represented the seller and procured the buyer in the transaction.

August 21, 2020

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