REBusinessOnline

SunCoast Properties Sells Ground Lease of Chase Bank-Occupied Asset in Anaheim for $5.1M

545-N-Euclid-St-Anaheim-CA

Chase Bank occupies the 3,988-square-foot retail property at 545 N. Euclid St. in Anaheim, Calif.

ANAHEIM, CALIF. — SunCoast Properties has completed the disposition of the ground lease of a newly constructed, freestanding retail building located at 545 N. Euclid St. in Anaheim. A Los Angeles-based private investor acquired the asset for $5.1 million.

Chase Bank occupies the 3,988-square-foot, single-tenant property with a corporate-guaranteed, triple-net, 20-year lease. SunCoast developed the property, which opened earlier this year.

Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter of SRS Real Estate Partners’ National Net Lease Group represented the seller, while Bill Asher and Jeff Lefko of Hanley Investment Group represented the buyer in the deal.

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