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October 5, 2023
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Private Investor Buys 1.25-Acre Retail Property in Long Beach


In Long Beach, a private investor acquired a 1.25-acre retail property NNN fully leased to Dollar Tree and Family Dollar Inc. The property, located at 5117 Atlantic Ave, was sold by Ramser Development Company, who purchased the asset in 2019 as part of a 1031 exchange.

Built in 1955 and renovated in 2016, the infill property consists of two free-standing buildings totaling 21.8k sf, along with 51 parking spaces. It is well-positioned along Atlantic Ave, a primary retail corridor through central Long Beach, and is accessible to a population of more than 680,000 people within a five-mile radius.

Dollar Tree and Family Dollar are national credit tenants with a recent upgrade of their investment grade credit to BBB and are considered essential U.S. retailers.

Phil Ramming of Faris Lee represented Ramser Development, which plans to reallocate the proceeds into one or more facilities in its core business of RV and Boat Storage, self-storage and industrial outdoor storage. The buyer was repped by Mark Repstad of Southland Commercial Real Estate. The price was not given out.

Ramser Development’s established portfolio includes over 1.5 msf of RV and Boat Storage property, and over 6,200 indoor and outdoor storage spaces. The firm is aggressively pursuing new indoor and outdoor RV and Boat Storage investment opportunities in select locations throughout the Sunbelt, Mountain West and Pacific Northwest regions of the U.S.

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