Density is aware of no price ticket typically for traders trying to purchase into retail.
An unnamed purchaser has gained entry to greater than 3.6 million folks inside a 10-mile radius of a Goal retailer seven miles from Los Angeles in what the dealer says is the biggest web lease retail sale of the 12 months up to now.
The deal for the 56,000-square foot retail house in Huntington Park was introduced final week by The Mansour Group of Marcus & Millichap Brokers for almost $50 million and nearly $900 per sq. foot.
“This transaction represents a generational alternative to amass a best-in-class retail asset with a long-term triple-net lease in a trophy, infill location inside Los Angeles,” Alvin Mansour, govt managing director investments, The Mansour Group of Marcus & Millichap, mentioned in a ready assertion.
The customer was a personal investor from New York Metropolis utilizing a 1031 trade.
Mansour mentioned the possibility at that large a client block led to “a extremely aggressive gross sales course of that included a number of bidders, personal and institutional, regardless of rising rates of interest and inflation.”
Positioned on Bickett Avenue, the Goal is close by to a LA Health, Staples, House Depot and Huntington Park Excessive Faculty.
