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Marcus & Millichap Negotiates $22.5M Sale of Smart & Final Grocery Store Location in Westlake Village, California

Smart-Final-Westlake-Village-CA

Smart & Final and Dollar Tree occupy the 50,242-square-foot property on separate triple-net leases.

WESTLAKE VILLAGE, CALIF. — Marcus & Millichap has arranged the sale of an asset occupied by a Smart & Final grocery store in Westlake Village, a suburb of Los Angeles. The triple-net-leased asset sold for $22.5 million, or $448 per square foot.

The property totals 50,242 square feet with Smart & Final as the main tenant. However, 12,500 square feet is subleased to Dollar Tree on a 10-year, triple-net lease, with Smart & Final responsible for all aspects of the lease.

Lior Regenstreif of Marcus & Millichap represented the seller, Riverside Villas LLC, in the transaction.

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