Net Lease

Hanley Arranges $2.9M Sale of Taco Bell-Occupied Property in Corona, California

by Jeff Shaw April 6, 2023

CORONA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a single-tenant retail property in Corona. A Taco Bell drive-thru operated by Alvarado Restaurant Nation occupies the 2,049-square-foot property on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Evergreen Development, in the transaction. David Aschkenasy of Commercial Asset Group represented the 1031-exchange buyer, a locally based private investor.

April 6, 2023

44-01-Northern-Boulevard-Cantor Fitzgerald

Acquisitions Colorado Net Lease Restaurant Retail Western

Blue West Capital Negotiates $2.7M Sale of Starbucks-Occupied Building in Centennial, Colorado

by Amy Works March 8, 2023

CENTENNIAL, COLO. — Blue West Capital has brokered the sale of a single-tenant retail property, located at 20201 E. Smoky Hill Road in Centennial. A Colorado-based real estate investment company sold the asset to a Colorado-based family for $2.7 million. Starbucks Coffee occupies the newly constructed building on a net-lease basis. Tom Ethington of Blue West Capital represented the seller in the transaction.

March 8, 2023

Acquisitions Colorado Net Lease Retail Western

RealSource Brokers $3.1M Sale of Grease Monkey-Occupied Retail Property in Monument, Colorado

by Amy Works March 7, 2023

MONUMENT, COLO. — RealSource Group has arranged the sale of a single-tenant retail building located at 213 W. Highway 105 in Monument, approximately 50 miles south of Denver. A Monument-based private investor sold the asset to a Houston-based private real estate investment firm for $3.1 million. Oil change service provider Grease Monkey occupies the 5,309-square-foot building, which was built in 1995 and renovated in 2007. The tenant recently signed a 10-year initial lease with 10 percent rental increases every five years. Austin Blodgett and Jonathan Schiffer of RealSource, along with ParaSell Inc., represented the seller in the deal.

March 7, 2023

Acquisitions Arizona Net Lease Retail Western

Marcus & Millichap Brokers $6.1M Sale of Super Star Car Wash in San Tan Valley, Arizona

by Amy Works February 27, 2023

SAN TAN VALLEY, ARIZ. — Marcus & Millichap has arranged the sale-leaseback of a retail property located at 1732 W. Hunt Highway in San Tan Valley. A limited liability company sold the property to an undisclosed buyer for $6.1 million. Super Star Car Wash occupies the 4,517-square-foot on a net-leased basis. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller. Ryan Sarbinoff of Marcus & Millichap served as the Arizona broker of record in the deal.

February 27, 2023

Loans Net Lease New Jersey Northeast Retail

Axiom Capital Arranges $2.1M Loan for Refinancing of Retail Asset in Teaneck, New Jersey

by Taylor Williams February 22, 2023

TEANECK, N.J. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $2.1 million loan for the refinancing of an 11,500-square-foot retail asset in the Northern New Jersey community of Teaneck. The freestanding building sits on a three-quarter acre site and was fully leased to a single, undisclosed tenant at the time of sale. The direct lender and borrower were also not disclosed. The nonrecourse loan carried a four-year term and a fixed interest rate.

February 22, 2023

Acquisitions California Net Lease Retail Western

JLL Brokers $4.4M Sale of Citibank-Occupied Retail Property in San Jose, California

by Amy Works February 20, 2023

SAN JOSE, CALIF. — JLL has arranged the sale of a single-tenant retail building at 3510 Leigh Ave. in San Jose. An undisclosed seller sold the asset to a private capital exchange buyer for $4.4 million. Citibank occupies the 7,986-square-foot property on a triple-net lease with six years of the lease term remaining. Eric Kathrein, Warren McClean and Andrew Spangenberg of JLL Retail Capital Markets represented the seller and procured the buyer in the deal.

February 20, 2023

Acquisitions Massachusetts Net Lease Northeast Retail

Marcus & Millichap Brokers $5.8M Sale of Net-Leased Retail Property in Saugus, Massachusetts

by Taylor Williams February 20, 2023

SAUGUS, MASS. — Marcus & Millichap has brokered the $5.8 million sale of a 17,069-square-foot retail property in Saugus, a northern suburb of Boston, that is net leased to Harbor Freight Tools. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The trio also procured an undisclosed, national REIT as the buyer. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.

February 20, 2023

Acquisitions Arizona Net Lease Retail Western

Marcus & Millichap Negotiates Sale of 4,500 SF Retail Property in Chino Valley, Arizona

by Amy Works February 17, 2023

CHINO VALLEY, ARIZ. — Marcus & Millichap has brokered the sale of a retail building located at 89 West Road 2 in Chino Valley. A limited liability company sold the property to another limited liability company for $3.1 million. Sherwin-Williams occupies the 4,500-square-foot property, which was built in 2022, on a net-leased basis. Mark Ruble and Chris Lund of Marcus & Millichap represented the seller and procured the buyer in the deal.

February 17, 2023

Acquisitions Net Lease Retail Texas

Marcus & Millichap Arranges $5M Sale of Net-Leased Retail Property in San Antonio

by Taylor Williams February 15, 2023

SAN ANTONIO — Marcus & Millichap has arranged the $5 million sale of a 12,460-square-foot retail property in San Antonio that is net leased to Walgreens. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. The buyer was also not disclosed. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

February 15, 2023

Acquisitions Colorado Healthcare Net Lease Office Western

Marcus & Millichap Brokers Sale of 24,806 SF Medical Office Building in Colorado Springs

by Amy Works February 10, 2023

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a medical office building located at 2960 N. Circle Drive in Colorado Springs. A local limited liability company sold the property to local investor for $4.2 million. Colorado Springs Family Practice occupies the 24,806-square-foot building, which was built in 2003 on two acres. Spencer Mason, Brandon Kramer and Erik Enstad of Marcus & Millichap’s Denver office represented the seller in the deal.

February 10, 2023

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