Daniel Tyner of CBC Advisors Announces $4.7M Sale
(Irvine, CA, 7/26/2016) – Daniel Tyner and Scott Hook, of Coldwell Banker Commercial Advisors, have announced the sale of a Rite Aid property in the City of Murrieta, CA. The property which consists of a 16,708 square foot building sold for $4,700,000 at an approximate cap rate of 5.85%. Daniel Tyner and Scott Hook, represented the sellers in this transaction. The property is located along the major retail corridor of California Oaks Road, right off the 15 Freeway in Murrieta.
“This was a unique property due to the close proximity of Walgreens and the current negotiations between Rite Aid and Walgreens relating to their company merger. The Rite Aid, which had less than 3 years left on the current lease term, allows the new investor the flexibility to renegotiate the lease or redevelop the site.” stated Daniel Tyner. “The below market rent currently in place was attractive to the buyer and the acquisition fulfilled the buyers 1031 exchange requirement,” Tyner added.
Daniel Tyner, having started his career at an early age with Coldwell Banker Commercial in 2014, continues to set his footprint in the commercial real estate industry. Specializing in the sale of retail properties, Mr. Tyner has exclusively listed and sold numerous properties including Rite Aid, Carl’s Jr, Taco Bell, and Dollar Tree among others. Mr. Tyner and Mr. Hook have sold numerous multi-tenant and single tenant retail properties throughout Southern California.
About Coldwell Banker Commercial Advisors
Coldwell Banker Commercial Advisors (CBC Advisors) has maintained its designation as the top-performing Coldwell Banker Commercial affiliate in the world for 13 consecutive years. With over 450 professionals in 29 offices spanning New York to Los Angeles and from Miami to Anchorage, CBC Advisors provides the most technologically advanced and dynamic platform in the industry. For more information, visit www.cbcadvisors.com.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial® is a registered trademark licensed to Coldwell Banker Real Estate Corporation. Since 1906, the Coldwell Banker Commercial brand has been a premier provider of real estate, recognized globally as a company that puts the client first while delivering individual, distinctly different service. Coldwell Banker Commercial affiliates cover territory throughout North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Commercial is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. Each office is independently owned and operated. For more information, visit: www.cbcworldwide.com.