ERIE, COLO. — Blue West Capital has negotiated the acquisition of a single-tenant medical office building located at 2970 Arapahoe Road in Erie, approximately 25 miles north of downtown Denver. An Arizona-based family in a 1031 exchange acquired the asset from a local developer for $5.6 million. UCHealth occupies the medical office building on a net-lease basis. Tom Ethington of Blue West Capital represented the buyer in the deal.
MALDEN, MO. — Marcus & Millichap has brokered the sale of a 43,770-square-foot retail property occupied by Walmart in Malden, which is part of the Missouri Bootheel in the southeast portion of the state. A limited liability company purchased the net-leased property, located at 1007 N. Douglass St., for $2.9 million in an all-cash transaction. Walmart has five years remaining on its lease. Investment specialists Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles from Marcus & Millichap’s Cleveland and Columbus offices marketed the asset on behalf of the seller, a limited liability company and private investor. The buyer was also secured and represented by Shapiro, Fuller, Patton and Wiles with the assistance of David Saverin, Missouri broker of record.
DENVER — Marcus & Millichap has brokered the sale of 1800 Welton, a net-leased retail property in downtown Denver. A Colorado-based partnership sold the asset to an undisclosed buyer for $8 million. 7-Eleven occupies the 3,293-square-foot building, which is on a 15,660-square-foot site. Drew Isaac of Marcus & Millichap represented the seller in the deal.
LIVERMORE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant restaurant property located at 1754 N. Livermore Ave. in Livermore. Meridian sold the property to an Alameda County-based buyer in a 1031 exchange for $10.4 million. Chick-fil-A occupies the 4,821-square-foot, built-to-suit property on a 20-year initial net lease term. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller in the deal.
STEAMBOAT SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant property located at 2717 S. Copper Passage in Steamboat Springs. A Colorado-based private investor sold the asset to a Denver-based buyer for $5 million in an all-cash transaction. FedEx has operated at the property since 2000 and recently signed a long-term, net-lease extension. Brandon Gayeski of Blue West Capital represented the seller in the deal.
TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $3.8 million sale of a 2,500-square-foot, single-tenant retail property in Tampa that is occupied by Starbucks Coffee. Located at 4418 W. Gandy Blvd., the property was recently developed and is under a 10-year corporate-guaranteed lease. The store is situated on a one-acre site and features a drive-thru. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, Alliant Partners LLC, in the transaction. The buyer was a South Florida-based private investor that was in a 1031 exchange and paid all-cash for the asset.
CARLSBAD, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail center located at 711 Grand Ave. in Carlsbad. A New York-based private investor sold the asset to a San Diego-based private investor for $4.5 million, or $976 per square foot. Built in 2019, the 4,584-square-foot property is fully leased to three tenants: Harumana Noodles + Buns, Village Optical and The Shop Salon, all of which are on triple-net leases. Mike Lin of Progressive Real Estate Partners represented the seller, while Josh Simms and Ryan King of Voit Real Estate Services represented the buyer in the transaction.
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.
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.
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.
