June 25, 2012 by The Hoyt Organization
SANTA MARIA, Calif. — June 25, 2012— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $1.98 million sale (6.5 percent cap rate) on a 4,860-square-foot freestanding David’s Bridal building. The property, which sits on an approximately 19,166-square-foot parcel of land, is located at 227 E. Betteravia Road in Santa Maria, Calif. The property is located as an outparcel to a Target-anchored shopping center and was sold to a private investor who paid the full $1.98 million in cash.
Ryan Barr and Ryan Bennett of Lee & Associates’ North San Diego County office, who co-listed the property with Steve Leider of Lee’s Santa Barbara office, represented an undisclosed seller in transaction. Barr and Bennett specialize in the acquisition and disposition of single tenant net leased assets nationwide, in addition to shopping center investments.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
About Net Leased Group
The Net Leased Group specializes in the acquisition and disposition of single tenant net leased (NNN) investments in addition to retail shopping center investments nationwide. The Net Leased Group provides full advisory services to high net worth individuals, developers, institutional investors, REITS, and sale-leaseback expertise to franchisees. By leveraging these highly valued relationships in conjunction with our proprietary database of global investors, we are able to provide each client with world-class brokerage services.