(For more retail coverage, click GlobeSt.com/RETAIL.)
SURPRISE, AZ-A San Diego developer has sold a net-leased,6,327-sf retail building for $1.82 million to a Santa Clara, CAcouple. The deal's sweet spot is Advanced Auto Service & TireCenter has 16 years to go on its lease.
Buyers Tai and Phuong Nguyen will pick up $115,000 in annualrent from the tenant at 14076 W. Grand Ave., according to JamieMedress, a Phoenix associate with Marcus & Millichap RealEstate Investment Brokerage Co. The property, listed at $1.84million, was marketed for three weeks by Medress and Marcusassociate Steve Gonzalez. "The buyers got the deal because theywere clearly interested," Medress tells GlobeSt.com. "They'd soldsomething in California and were using the exchange money toinvest."
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