The Bid-Ask Price Gap Ignores Pandemic's Upheaval

To hear the listing team describe it, 1372 South California Blvd., in downtown Walnut Creek, CA, is the perfect investment property. It is a 25,520-square-foot two-tenant retail property anchored by a strong performing Trader Joe’s and Pet Food Express backed by CVS credit. Sansome Pacific Properties was the seller, represented by Putnam Daily, Lindsey Snider, and Michael Maffia with Preserve West Capital.

“There is an incredible amount of demand for well-located, high-quality net lease retail investments anchored by high-volume grocery tenants like Trader Joe’s,” Daily said at the time of the sale. “With limited supply of opportunities in this space, especially those with long-term development potential, we experienced as much inquiry and interest as we have had for an opportunity in the last decade.”