Friday, March 4, 2011

stan johnson company completes sale of Comerica Bank ground lease in

RANCHO CUCAMONA, CA – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of 0.76 acre parcel 100% leased to Comerica Bank and guaranteed by Comerica Incorporated to a foreign private investor  for $3.3 million or a 5.09 percent cap rate.  The property is located at 12035 Foothill Blvd. in Rancho Cucamonga.  

Brandon Duff and Brad Feller of Stan Johnson Company exclusively represented the seller in the transaction, a California private partnership. 

“This cap rate is one of the most aggressive I have seen in recent years,” says Duff.  “We are seeing similar activity on comparable properties we are currently marketing and continue to see investors who are first time net lease investors enter the marketplace.”

Duff went on to say that the buyer was looking for a passive, investment grade, net-lease property in the United States. There were multiple offers on the property and the buyer performed a five day due diligence period and closed seven days thereafter in order to win the deal.

The property is situated within the Victoria Commons master-planned project, on Foothill Boulevard, the primary retail corridor for the Rancho Cucamonga trade area. It is located adjacent to national restaurants and hotels.

Located less that 1/8 of a mile from the subject property is Victoria Gardens Regional Town Center. Victoria Gardens (bottom right photo) is one of Southern California’s premier shopping, dining and entertainment destinations with over 150 specialty stores, restaurants, AMC Theatres (12 screens), the Victoria Gardens Cultural Center; and Bass Pro Shops Outdoor World (a 180,000 square foot sportsman’s paradise).

Contact: David Ebeling, Ebeling Communications, (949) 278-7851

No comments: