The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 5, 2020
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
Walgreens-Occupied Ground Lease in the Inland Empire Sells for $2.9 Mil

1/06/20

A private investor from Newport Beach paid $2.9 mil for the ground lease of a 13.9k sf, single-tenant retail property in San Bernardino. The property is occupied by Walgreens on an absolute, triple-net corporate guaranteed lease.

Built in 2002 and situated on 1.44 acres at 1634 E. Highland Ave, the property includes a drive-thru and provides 74 parking spaces. It is located at the signalized highly trafficked intersection of E. Highland Ave and Del Rosa Ave N. and is less than two miles from St. Bernadine Medical Center. Additionally, it is within a strong retail corridor with other nearby retailers including Target, Harbor Freight Tools, Stater Bros, and Chase Bank, among others.

Michael Walseth with SRS National Net Lease Group represented the buyer and the seller a Chicago-based private investor. The closing cap rate was 4.32%.

“Ground lease opportunities with a strong national tenant in a dense, infill Southern California market are scarce and in high demand from investors seeking a passive investment,” said Walseth.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media