Westlake Village, Calif. — Marcus & Millichap has arranged the sale of a Smart & Final grocery store located 40 miles outside Los Angeles in Westlake Village. The triple-net-leased asset sold for $22.5 million. 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. The Smart & Final grocery store is located within the Westlake Village Marketplace shopping center, across the street from Westlake Business Park and one mile from the Ventura Freeway/U.S. 101.
Marcus & Millichap Arranges $22.5 Million Sale of Smart & Final Grocery Store in Metro Los Angeles