5-Unit Park Center Plaza in Concord Sells for $3.35MM

Contra Costa County, Bay Area, East Bay, NAI Global, Park Center Plaza, NAI Northern California, Concord

Contra Costa County, Bay Area, East Bay, NAI Global, Park Center Plaza, NAI Northern California, Concord

CONCORD, CA – 2/7/2017 – NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is pleased to announce the sale of Park Center Plaza, a 5-unit retail strip center located at 1895 Farm Bureau Rd in Concord, CA. Senior Investment Advisor Alex Barker and Investment Advisor Todd Lewis represented the seller in the $3.35 million dollar sale of Park Center Plaza.

Built in 1984, the Park Center Plaza features a retail strip center with a 5-unit value featuring substantial parking, ideal ingress and egress, as well as high traffic counts. Situated on a busy 4-way intersection in close proximity to public transportation, and other national retailers. Park Center Plaza’s established tenants and prime location resulted in increased interest from investors for this value-add opportunity.

“Our team was able to leverage NAI’s extensive advertising mediums to effectively attract the perfect local buyer for the property.” said Alex Barker, Senior Investment Advisor with NAI. Investment Advisor Todd Lewis adds “Despite the Anchor Tenant vacancy (Roughly 27.5% of GLA), incredible value in the center’s location and strong local tenant mix were emphasized. Our local expertise allowed us to sell this at a current CAP rate of roughly 4.5% & $275/SF, which is among the lowest CAP rates and highest Price/SF for tertiary East Bay Retail Markets this year.”

About NAI Northern California
NAI Northern California is full service commercial real estate firm in the San Francisco Bay Area and part of NAI Global, the largest managed network of Commercial Real Estate Brokerage Service firms in the World. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, NAI Northern California provides comprehensive brokerage, leasing, debt, advisory, and property management services for corporate end users, property owners, developers, investors and financial institutions. To learn more, visit www.nainorcal.com

About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate 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. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. To learn more, visit www.naiglobal.com

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