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4/15/16
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A 5k sf, single-tenant, NNN-leased property occupied by Union Bank in Bellflower sold for $3.19 mil, or about $638/sf. Located at 9738 Alondra Blvd, the property is situated on the southwest corner of the highly trafficked intersection of Alondra and Bellflower Blvds.
Kyle Gulock and Jason Cope of Charles Dunn Company represented the seller, a private investor from Orange County, as well as the buyer, a Chinese investor. The transaction closed at a capitalization rate of 4.43 percent.
According to Cope, “There was 1.5 years remaining on the lease with Union Bank at the time of sale. However, Union Bank has a long term history of tenancy at this location, a strong deposit base, and the property offers an irreplaceable corner location in a strong retail corridor.”
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