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3/12/21
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A 26.4k sf, Grocery Outlet-occupied retail property in Anaheim sold for $5.82 mil, or $220/sf. The buyer was a Los Angeles-based private investor.
The “essential needs” grocery store is situated on just over two acres at 3430 West Lincoln Ave, with a dedicated pylon sign facing Lincoln Avenue, a heavily trafficked access road to several major freeways. This Grocery Outlet is just two miles south of Knott’s Berry Farm and six miles east of Disneyland.
Alan Krueger and Vanessa Haddad with CBRE represented the buyer and the seller, Land Investments, in the transaction.
Grocery stores have been among the most stable property types in rent collection with a rent collection rate of 93%, compared to the national retail rent collection rate of 86%, according to CBRE Research.
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