Hanley Investment Group Arranges Sale of Brand New Single-Tenant Grocery Outlet in Fresno County, California, for $6,370,000
Hanley Investment Group Arranges Sale of Brand New Single-Tenant Grocery Outlet in Fresno County, California, for $6,370,000 -- , a nationally recognized real estate brokerage and advisory firm specializing in the sale of retail properties, announced today the sale of a brand new single-tenant net-leased investment occupied by in . (NASDAQ: GO) recently reported that net sales for fiscal 2022 first quarter totaled , up 10.5% from a year earlier, while same-store sales grew 5.2% year-over-year. This is the fourth single-tenant in that has sold in the last five months, all at sub-5% cap rate prices. With unmatched service, has redefined the experience of selling retail investment properties.
Published : 2 years ago by MarketScreener in Finance Markets
-- , a nationally recognized real estate brokerage and advisory firm specializing in the sale of retail properties, announced today the sale of a brand new single-tenant net-leased investment occupied by in . The sale price was , representing a cap rate of 4.90%.
Executive Vice Presidents and represented the seller, a local private investment firm. The buyer was a private investor from , represented by , an executive vice president with based in .
"We generated multiple competitive and qualified offers in the first week of marketing the property before securing a 1031 exchange buyer that closed at 100% of the asking price," said Asher. " describes itself as the nation's fastest-growing extreme-value grocery retailer and opened 36 stores in 2021, with plans to open 28 stores in 2022."
The 16,000-square-foot building is located on 2.08 acres at in , at the signalized intersection of ( ) and ( ) with 28,500 cars per day. The city of is located in , one of the world's largest economies and situated within four hours of 90% of the state's population. is located 15 miles west of the city of , the largest city in the and the fifth largest city in .
(NASDAQ: GO) recently reported that net sales for fiscal 2022 first quarter totaled , up 10.5% from a year earlier, while same-store sales grew 5.2% year-over-year. comp-stores sales are up 14.3% on a three-year stack, covering the period since the onset of COVID-19.
Based in , has more than 420 stores in , , , , and .
This is the fourth single-tenant in that has sold in the last five months, all at sub-5% cap rate prices.
"As an essential business and daily-needs tenant, single-tenant grocery investments have remained one of the most sought-after retail assets in this market," said Asher. "Investors see a flight to safety and security in the grocery sector, especially with a value grocery retailer like . has experienced significant buyer demand for single-tenant net-leased grocery assets in markets across the in the last several years and we expect this trend to continue in 2022 and beyond."
is a real estate brokerage and advisory services company with over a transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
Topics: California, Fresno