November 15, 2013 by The Hoyt Organization
SACRAMENTO, Calif. — November 15, 2013— Lee & Associates, one of the largest national commercial real estate firms with offices nationwide, has closed a $9.238 million sale on a 17,272-square-foot freestanding Walgreen’s building.
Ryan Barr and Ryan Bennett of Lee & Associates’ North San Diego County office represented the private seller in the off market transaction. The name of the buyer could not be disclosed.
“This sale pushed the market to levels we haven’t seen since 2005. Our seller was very pleased,” said Barr.
The property, which sits on an approximately 1.91-acre parcel of land, is located at 1420 Meadowview Road in Sacramento, Calif. across the street from a Home Depot-anchored shopping center. The property was sold to an all-cash California-based high-net worth investor at a market low cap rate of 5.25 percent.
Barr and Bennett Net Leased Investments specializes 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.