SRS Negotiates $6M Sale of Grocery Outlet-Occupied Retail Property in Norco, California
NORCO, CALIF. — SRS Real Estate Partners has brokered the sale a single-tenant retail property located at 1428 Sixth St. in Norco. A family partnership acquired the asset from a local developer for $6 million.
Grocery Outlet occupies the newly constructed, 18,000-square-foot building, which is situated on 1.7 acres. Grocery Outlet, which opened in March, is the anchor tenant for the new Norco Gateway Shopping Center. Additional tenants include Taco Bell and 6,000 square feet of future retail shops.
Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller, while Mark Bitterlin of Trust Real Estate Services represented the buyer in the transaction.