SRS Real Estate Partners and Hanley Investment Group announced today the $7.2 million sale of a 32,000-square-foot property occupied by Sav-Mor Foods. Situated on 2.59 acres at 570 Solano Street in Corning, Calif., the property is approximately 25 miles from Chico, Calif.
SRS Capital Markets Vice President Alexander Moore and Hanley Investment Group Senior Vice President Lee Csenar represented the seller, a private investor from Redding, Calif. The buyer was a Napa Valley, Calif.-based private investor.
“This property is a top-performing location for the chain run by North State Grocery, Inc. which operates 21 locations in California and Oregon,” said Moore. “Sav-Mor was attractive to the buyer as it has 15 years remaining on its lease with annual increases and also generates additional solar revenue. Overall, this is a stabilized, high-quality investment in a growing Northern California city.”
Sav-Mor is near other national retailers and is proximate to Interstate 5 and SR-99. It is also five minutes from Rolling Hills Casino & Resort.
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 670 properties actively on the market with a market value surpassing $2.9 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.