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10/01/21
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Three high-profile, single-tenant retail properties in the Greater Los Angeles area traded hands in separate deals totaling over $100 mil. The transactions included a Hone Depot, an Amazon Fresh facility and a Chick-Fil-A.
The largest transaction was a for a 111.6k sf Home Depot, which sold for $61.8 mil ($554/sf). The property is located at 5040 W. San Fernando Rd in Glendale, at the northeast corner with Colorado Blvd. The property includes a 94.5k sf Home Depot building in addition to outdoor garden sales area totaling 17.1k sf. The 7.86-acre parcel has primary frontage on W. San Fernando Rd.
The buyer, Charing Cross Partners, is a private Los Angeles-based real estate partnership. Bill Bauman, Kyle Miller and Matt Schwartz with Newmark represented the seller, Decron Properties, in the transaction.
In another transaction, an L.A.-based investor paid $35 mil for a 29.5k sf ($1,186/sf), single-tenant Amazon Fresh facility located at 6855 La Cienega Blvd. Newmark’s Bauman, Miller and Schwartz repped the seller, Red Mountain Retail Group. The buyer was represented by Kevin Held at Cushman and Wakefield.
And in the third deal, an OC-based private investor bought a 4k sf, single-tenant Chick-Fil-A located at 6801 La Cienega Blvd for $13.7 mil ($3,425/sf) in what we’re told is the highest priced Chick-Fil-A ever sold. The same Newmark team represented Red Mountain Retail Group, the seller, in this transaction as well.
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