The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 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?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Valencia Circle K Ground Lease Trades for $4 Mil

4/08/20

A Beverly Hills-based private trust acquired an absolute triple-net ground lease for a new construction, single-tenant Circle K convenience store and gas station in Valencia. The asset, located at 24010 Copper Hill Dr, sold for $4.025 mil, which represented a cap rate of 4.10%, the lowest cap rate nationwide for a new construction, single-tenant Circle K priced over $1 mil.

Built in 2018, the new 3.8k sf convenience store building and fuel station sits on 1.31 acres and is located at the hard corner, signalized intersection of Copper Hill Dr and Rio Norte Dr, with 36,000 cars per day.

Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented the seller and developer, Fountainhead Development of Newport Beach. The all-cash buyer was repped by Edan Amar and Idan Cohen of Keller Williams Realty in West Hollywood.

According to Asher, “Circle K featured a new, long-term corporate guaranteed lease that was very attractive to single-tenant net-leased investors in today’s market. The net-leased buyer pool continues to see the most demand and activity out of any retail category to start 2020. Additionally, the site’s strong fundamentals combined with the new, long-term, absolute triple-net ground lease, offered minimal landlord responsibilities and a secure and stable investment for the buyer who fulfilled a 1031 exchange with the purchase.”

Circle K was ranked #2 in the CSP Magazine’s “Top 40 C-Store Chains” in 2018 and 2019. Circle K’s parent company, Alimentation Couche-Tard Inc., is the largest independent convenience store operator in terms of the number of company-operated stores in North America.





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 © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media