Cassidy Turley Northern California Significant Investment Deals

Investment Services Group, Net Leased Investment Services & Hospitality Group

New Academy Sports + Outdoors and Kay Jewelers Buildings Sell for $12.1 Million at Willow Lake Crossing in Central Georgia
Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley’s Net Leased Investment Services represented the Seller in the sale of a 62,308-square-foot freestanding retail building plus a 3,200-square-foot retail building at the Willow Lake Crossing shopping center in central Georgia for a combined price of $12,100,000. The Willow Lake Crossing shopping center is located in the city of Warner Robins, about 80 miles south of Atlanta. The Buyer was the same party in both transactions.

The 62,308-square-foot building located at 2907 Watson Boulevard was recently constructed in August and is fully net leased to Academy Sports + Outdoors for a 15 year term running through August 2027. The 3,200-square-foot retail building is located at 2922 Watson Boulevard and is fully leased to Kay Jewelers.

Rite-Aid Property Sold in Virginia Beach for $3.49 Million
Bob Tuller with Cassidy Turley’s Net Leased Investment Services has represented both Buyer and Seller in the sale of a 10,908-square-foot retail property in Virginia Beach, VA for $3,490,000 ($319.95 psf) at a 10.5% cap rate. The property is fully leased to Rite-Aid and is located at 3653 Virginia Beach Boulevard.

Staples Building Acquired for Around $3 Million in Indianapolis
Andy Bogardus with Cassidy Turley’s Net Leased Investment Services represented the Buyer in the purchase of a retail property leased to Staples in Indianapolis, IN for around $3 million. The property is a relocation for Staples allowing them to move into a stand-alone building and away from the current in-line space.  The property is adjacent to Kohl’s.

Chase Bank Property Sold for Around $3 Million in Fort Worth, TX
Andy Bogardus with Cassidy Turley’s Net Leased Investment Services represented the Seller in the sale of a retail bank branch in Fort Worth, TX for around $3 million. The property is located at in the Westover Village Center and is fully leased to Chase Bank. The property sits directly across from a Wal-Mart Supercenter, near the junction of Interstates 820 and 30.

Panda Express-Anchored Multi-Tenant Retail Property Sold in Salem, OR for $2.9 Million
Chris Sheldon and Andy Bogardus with Cassidy Turley’s Net Leased Investment Services represented the Seller in the sale of a 7,208-square-foot retail pad property in Salem, OR for $2,900,000 ($402.33 psf). The property is fully leased to Panda Express, Verizon Wireless, Taco Del Mar and Advantage Dental. The property is an out parcel of the Mission Lakes Shopping Center which is anchored by Lowe’s and Walmart.

Two Hardee’s Properties Sell in Illinois & South Carolina for Combined $2.76 Million; Buyer Completes 1031 Exchange Out of 12-Unit Apartment Building in Santa Clara, CA
Justin Bautista and Brian Henry with Cassidy Turley represented the Buyer(s), a partnership of private investors, in the acquisition of two Hardee’s net leased properties located in Illinois and South Carolina for a combined sale price of $2,760,000. The larger of the two transactions was the acquisition of a 3,592-square-foot retail property in Boiling Springs, SC for $1,430,000 ($398.11 psf). The property is located at 3112 Boiling Springs Road and is fully leased to Hardee’s. The second of the transactions was the sale of a 3,500-square-foot retail property in Robinson, IL for $1,330,000 ($380.00 psf). The property is located at 502 East Main Street and is also fully leased to Hardee’s. The Buyer(s) successfully completed a 1031 exchange out of a 12-unit apartment building in Santa Clara, CA and each investor separately purchased a Hardee’s property. The Seller was the same party in both sale transactions.

Cassidy Turley provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.

Lead Contacts (listed alphabetical by first name):
Andy Bogardus, (415) 781-8100, abogardus@ctbt.com
Bob Tuller, (415) 781-8100, btuller@ctbt.com
Chris Sheldon, (415) 781-8100, csheldon@ctbt.com
Justin Bautista, (650) 852-1200, jbautista@ctbt.com
Rick Sanner, (415) 781-8100, rsanner@ctbt.com

For market statistics or data, please contact:
Garrick Brown, Director of Research, (916) 329-1558, gbrown@ctbt.com

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.

Cassidy Turley provides regional real estate services in Northern California. With 15 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,300 transactions, totaling over $4.3 billion in 2011.

 

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