|
|
6/03/26
|
A private investor from Beverly Hills paid $4.64 mil for a single-tenant property occupied by Mor Furniture in Merced. Built in 2005, the 21.7k sf ($214/sf) property has a corporate-guaranteed triple-net lease in place with approximately eight years remaining.
Situated on 2.15 acres, the property is located at 1720 W. Olive Ave, just east of State Hwy 59, within a Lowe’s-anchored retail center that also includes Big 5, Dollar Tree, Ashley Furniture, Panda Express, and Del Taco, among others. It is also situated within a busy retail corridor with dozens of other national retail and dining options.
The property is within the City of Merced, a high-growth area with a population that has increased by 44% since 2000. There are more than 117,000 residents and more than 34,000 employees within a five-mile radius of the property.
SRS Capital Markets Senior Vice President Alexander Moore and Nick Frechou of Retail California represented the seller, Wood Investments Companies, a Southern California-based investment group.
“This transaction presented investors with the opportunity to acquire a well-located, institutionally maintained retail asset backed by a corporate-guaranteed triple-net lease,” said Moore. “The property’s location within a strong retail corridor, combined with Merced’s continued population growth and expanding employment base, made it especially attractive.”
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
