Lee & Associates – North San Diego County Negotiates Sale of a Grocery Outlet in Antioch, California
ANTIOCH, CA—October 21, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated the sale of a net leased investment occupied by Grocery Outlet in Antioch, California. Grocery Outlet had recently entered a 10-year lease for the site. The 17,000 square foot Grocery Outlet building along with CVS is one of two anchors within the new Buchananan Crossing Shopping Center set to be completed in November 2015.
Ryan Bennett and Ryan Barr, Principals of Lee & Associates – North San Diego County, represented the seller, Buchanan Crossings, LLC in the transaction. The buyer, John & Shiangling Wong Trust, used the proceeds from a 1031 tax deferred exchange to purchase the property.
“Currently, there is a large demand for newly constructed net leased properties which are occupied by strong national tenants and surrounded by excellent demographics. The demand for this product type in the Bay Area has so much surpassed the overall supply that we continue to see cap rates compress to historic lows” stated Ryan Barr.
Barr & Bennett Net Leased Investment Group, of Lee & Associates-North San Diego County, specialize in the acquisition and disposition of net leased assets nationwide.
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 locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.