Kidder Mathews Brokers $3.1M Sale of Net-Leased Retail Property in Costa Mesa, California
COSTA MESA, CALIF. — Kidder Mathews has arranged the sale of a net-leased retail property located at 400 E. 17th St. in Costa Mesa. A Newport Beach-based investor sold the asset to Massachusetts-based Henley Enterprises (dba Valvoline) for $3.1 million, or $3,454 per square foot.
Since 2000, Valvoline has occupied the 902-square-foot building. The property was triple-net leased to the tenant, which is now the owner-operator.
Michael Walseth of Kidder Mathews Walseth Net Leased group represented the seller, while the buyer was self-represented in the transaction.