Lee & Associates - North San Diego County Negotiates $2.15 Million Sale of Wells Fargo
Clovis, CA—April 6, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $2,150,000 investment sale of the Well Fargo leased building located at 75 Shaw Avenue in Clovis, California.
The tenant, Well Fargo, has been operating out of the building for 35 consecutive years since it was built in 1980 and had approximately six years left on its recently extended lease at the time of the purchase. This sale demonstrates the demand in the marketplace for quality net lease assets within California, as this sale transacted at a 4.73% capitalization rate.
Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller. The Buyer, Rugby Hancock, LLC, purchased the building as a long term double net investment (NN).
About Lee & Associates
Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 52 locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee-associates.com. You can also follow us on Facebook, LinkedIn and Twitter.