Tuesday, April 19, 2011
Colliers International Completes Sale of Single Tenant Starbucks for $1,194 per SF in Culver City, CA
CULVER CITY, CA, April 19, 2011 – Colliers International, the second largest global real estate services organization, has completed the sale of a 2,250-square-feet single tenant Starbucks (top centered photo) located at12313 Jefferson Blvd. Culver City, Calif. 90230. The transaction is valued at $2.685 million.
Jereme Snyder (top left photo), senior vice president of Colliers Retail Services and Director of Colliers NNN Group based in Colliers International’s Irvine office represented the seller, Olive Investment Group, LLC.
Kathleen Silver and Kay Thorpe represented the buyer, a Private Investor located in LA County.
“The property had multiple challenges to overcome including a NN lease, no drive-through and a tenant termination right in 6 years. With over 10 offers received on the asset, the sale is evidence that there is a very strong demand and a premium paid for well located real estate in Southern California,” said Snyder
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