Net lease

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Hanley Brokers $3.2 Million Pre-Sale of Car Wash Property in Southern California

by Hayden Spiess February 27, 2023

Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …

February 27, 2023

Investment sales Minnesota Net lease News Restaurants

Marcus & Millichap Brokers $2.3 Million Sale of Buca Di Beppo Restaurant Property in Minneapolis Suburb

by Hayden Spiess February 24, 2023

Eden Prairie, Minn. — Marcus & Millichap has brokered the $2.3 million sale of an 8,276-square-foot restaurant property in the Minneapolis suburb of Eden Prairie. Buca Di Beppo occupies the property on a net-lease basis. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company. Alvin Mansour and Sim Liberow, also of Marcus & Millichap, represented the buyer, an LLC completing a 1031 exchange.

February 24, 2023

Investment sales Net lease News Ohio

Cooper Group Brokers $1.9 Million Sale of Ground Leased Taco Bell Property in Kent, Ohio

by Hayden Spiess February 21, 2023

Kent, Ohio — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a single-tenant, ground-leased property occupied by Taco Bell in Kent. Constructed in 2019, the net-leased building serves as an outparcel to Maplecrest, a shopping center anchored by Meijer and Menard’s. Dan Cooper of Cooper Group represented the seller, a private investment group based in Northeast Ohio. The undisclosed buyer purchased the property at 99 percent of its list price, which represented a cap rate of 4.52 percent and $897 per-square-foot.

February 21, 2023

Illinois Investment sales Net lease News

Marcus & Millichap Arranges $2 Million Sale of Starbucks-Occupied Building in Metro Chicago

by Hayden Spiess February 21, 2023

Batavia, Ill. — Marcus & Millichap has arranged the $2 million sale of a 2,225-square-foot retail building in Batavia, approximately 40 miles west of Chicago. Constructed in 2022, the build-to-suit property is net-leased to Starbucks Coffee. The building features a drive-thru and outdoor seating. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a Chicagoland limited liability company. The duo also secured and represented the buyer, a Wisconsin-based private investor.

February 21, 2023

California Investment sales Net lease News

JLL Brokers $4.4 Million Sale of Single-Tenant Retail Property in San Jose, California

by Hayden Spiess February 20, 2023

San Jose, Calif. — JLL has arranged the sale of a single-tenant retail building located in San Jose. An undisclosed seller sold the asset to a private capital exchange buyer for $4.4 million. Citibank occupies the 7,986-square-foot property on a triple-net lease with six years of the lease term remaining. Eric Kathrein, Warren McClean and Andrew Spangenberg of JLL Retail Capital Markets represented the seller and procured the buyer in the deal.

February 20, 2023

Arizona Investment sales Net lease News

Marcus & Millichap Brokers Sale of 4,500-Square-Foot Retail Property in Chino Valley, Arizona

by Hayden Spiess February 17, 2023

Chino Valley, Ariz. — Marcus & Millichap has brokered the sale of a retail building located in Chino Valley. Sherwin-Williams occupies the 4,500-square-foot property, which was built in 2022, on a net-lease basis. Mark Ruble and Chris Lund of Marcus & Millichap represented the seller and procured the buyer, both limited liability companies, in the transaction.

February 17, 2023

Investment sales Net lease News Texas

Marcus & Millichap Brokers $5 Million Sale of Net-Leased Retail Property in San Antonio

by Hayden Spiess February 16, 2023

San Antonio — Marcus & Millichap has brokered the $5 million sale of a 12,460-square-foot retail property in San Antonio. Walgreens occupies the property on a net-lease basis. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

February 16, 2023

Investment sales Net lease New York News

Marcus & Millichap Brokers $11.3 Million Sale of Net-Leased Retail Property on Long Island

by Hayden Spiess February 14, 2023

Woodbury, N.Y. — Marcus & Millichap has brokered the $11.3 million sale of a 4,875-square-foot retail property in the Long Island community of Woodbury that is net leased to Chase Bank. The newly constructed building is located at 7920 Jericho Turnpike. Alan Lipsky and Barry Wolfe of Marcus & Millichap represented the seller, an entity doing business as 7940 Woodbury Partners LLC, in the transaction. The buyer was KIT Realty Inc. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

February 14, 2023

Investment sales Net lease News Washington

Newmark Brokers Sales of Two Retail Properties in Washington Totaling 124,660 Square Feet

by Hayden Spiess February 3, 2023

Kent and Kennewick, Wash. — Newmark has arranged the sales of two retail properties, totaling 124,660 square feet, in Kent and Kennewick. One property is a 67,240-square-foot vacant former Tops Foods Grocer, located in Kent. The property is part of the Canyon Ridge Shopping Center, which is shadow-anchored by Target, Ross Dress for Less, Old Navy and Petco. Located in Kennewick, the second building is a 57,420-square-foot, single-tenant property that is triple-net leased to Sportsman’s Warehouse. The property is within the Colonnade Shopping Center, which includes Ross Dress for Less, …

February 3, 2023

Investment sales Net lease News South Carolina

Walgreens-Leased Store in Hartsville, South Carolina Trades Hands in $5 Million Transaction

by Hayden Spiess February 2, 2023

Hartsville, S.C. — A 14,450-square-foot retail property located in Hartsville has traded hands in a $5 million sale. The store is net-leased to Walgreens, which has a little less than 11 years remaining on the lease, as well as 50 one-year extension options. A buyer based on the East Coast purchased the store in an all-cash deal from the seller, an undisclosed limited liability company. Bruce Cowley and Lisa Sickinger of Marcus & Millichap represented the seller in the transaction. Ben Yelm, Marcus & Millichap’s South Carolina broker of record, …

February 2, 2023

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