NAI Capital Negotiates $9.475M Smart & Final Extra! Net Leased Investment Sale in Highland, CA
Los Angeles, CA, July 17, 2018- Senior Vice President Dave Maron with NAI Capital’s Pasadena office represented the buyer, OD Property LLC, in the sale of a 27,524 SF Smart & Final Extra! located in Highland, Calif. The total sale price was $9.475M or $344 per square foot. The cap rate was 5.4%.
The property is located at 27550 Base Line St. It is a freestanding single-tenant general retail supermarket constructed in 2017. The project sits on a 2.9 acre lot, centrally located on a corner lot less than 1/4 mile from Interstate 210 Freeway. At the time of the sale the property was 100% leased to Smart & Final Stores LLC operator of chain warehouse grocery stores in the United States and Mexico headquartered in Commerce, California.
Dave Maron said, “This is an excellent long term investment for my client. It’s a brand new building, credit tenant, corporate guaranteed 20-year lease with 7.5% rental increases every 5 years in both the primary term and the four, five-year renewal options. This is a rare absolute triple net lease with zero landlord maintenance responsibilities.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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