SAN FRANCISCO, May 1, 2018 – Starboard Commercial Real Estate, privately owned and locally-based San Francisco commercial real estate firm, is pleased to announce the sale of 318 N. Sunrise Avenue in Roseville, CA.
The 24,750 square foot property was purchased for $4,511,000 by a San Francisco-based investor and is located in the Centre Pointe Regional Shopping Center, in between Home Depot and Fitness Evolution. The building is currently leased to Pet Club.
The deal was led by Richard Gumbiner, broker associate with Starboard Commercial Real Estate. According to Gumbiner, the 100 percent leased NNN investment is located at a prosperous retail intersection with Hwy 80 visibility, and provides long-term stable income to the investor with minimal management obligations.
“Conditions are still favorable to find NNN leased investment properties. Cap rates have improved and financing is still readily available at attractive rates,” shared Gumbiner. “Investors who are experiencing challenges with rent control, management, or excessive operating expenses should consider whether a NNN leased investment is more appropriate to their investment goals.”
The city of Roseville has a diverse economy that allows the city to thrive. The most dynamic industries in the city are technology, healthcare, agriculture, financial services, and retail. Shopping plays a vital role in the economy of Roseville, which has the thirteenth highest retail sales of all California cities.
The city is also considered a regional shopping destination, with the Westfield Galleria at Roseville being the main shopping center in the city and the second largest shopping mall in Northern California.
For a full list of Starboard’s current listings, visit www.starboardnet.com/listings.php.
About Starboard Commercial Real Estate
Starboard Commercial Real Estate is the largest independently owned commercial real estate company in San Francisco, California. Starboard was established in 1991 with a unique vision of what a commercial real estate firm should be. With a combined total of 55 years representing landlords and tenants, members of the firm are devoted to serving clients with the highest ethics and professionalism. By implementing the latest technology, Starboard combines innovative market techniques with hard work, pursuing every opportunity to meet its clients’ commercial property goals. Our brokers are highly qualified professionals supported by skilled support staff and a full-service in-house graphic and website design team. Our brokers have access to critical information on existing tenants in San Francisco and more than 1,814 office buildings and over 103 million square feet of office space throughout San Francisco.
In 2000, Starboard became the San Francisco member of TCN Worldwide Real Estate Services, a national affiliation of independent real estate firms located in more than 200 markets with 62 offices in 8 countries, including North and South America, Europe, and Asia. Using national and international real estate expertise, Starboard provides clients with local know-how on a global scale. Hans Hansson, managing principal, previously served on TCN Worldwide’s Board of Directors and served as regional vice president for two years. For more information, visit www.starboardnet.com.