SRS Real Estate Partners announced the $4.7 million sale of a property occupied by Plumas Bank located at 3000 Riverside Drive in Susanville, Calif. Renovated in 2021, the 5,440-square-foot property is situated on 1.06 acres and has a new 15-year, absolute, corporate-guaranteed triple net lease in place.
SRS Capital Markets Vice President Alexander Moore and Executive Vice President Jeff Lefko of Hanley Investment Group represented the seller, a private investment group. The buyer was a San Diego-based private investor.
“This property is an ideal, management-free investment for a passive investor with a rock-solid Plumas Bank corporate-guaranteed lease,” said Moore. “Our team has continued to see increased interest from net lease investors for Plumas Bank assets. The bank recently expanded its regional reach with an acquisition of another regional community bank in Northern California that added four branches to the Plumas Bank network and increased their total assets to $2.3 billion.”
The asset is well-located within a primary retail corridor in Susanville and is in the midst of a number of major retail brands including Walmart, Safeway, Grocery Outlet, McDonald’s and Starbucks, among others, creating favorable crossover customer traffic.
In 2024, SRS Capital Markets completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.