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11/21/23
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A CA-based, private 1031 exchange investor acquired a single-tenant, 33.8k sf building in Henderson, NV for $13.065 mil in a sale-leaseback deal. Built in 2001, the property is located at 160 N. Stephanie St.
The building is undergoing renovations for Green Valley Grocery’s corporate headquarters. The first Green Valley Grocery opened in 1978 and has grown to 80 locations with projected growth to 100 locations by 2025.
The seller was represented by Chuck Klein of SRS Capital Markets. The buyer was repped by Brian Riffel of Colliers International.
“This property provides Green Valley Grocery with the functionality they had been seeking for their corporate headquarters in an ideal location. The long-term commitment from Green Valley Grocery provides the new ownership with the stability of a seasoned and successful tenant in the highly desirable City of Henderson,” said Klein. “The greater Las Vegas region continues to experience strong growth in all sectors and has become an increasingly targeted location for both investors and tenants.”
He added that the state of Nevada provides businesses with advantages that include zero personal and corporate income tax, low property taxes, and an overall low cost of doing business.
The property is within a densely populated trade area with over 118,000 residents and a daytime population of approximately 114,000 within a three-mile radius. It also provides excellent access to Interstates 215, 515 and 15.
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