SRS Real Estate Partners’ National Net Lease Group (NNLG) completed the $6.875-million sale of a 34,199-square-foot single-tenant retail property located in Buena Park and occupied by Superior Grocers, an independent supermarket chain with more than 47 Southern California locations. At 4.92%, the sale breaks the record for the lowest reported cap rate for a single-tenant grocery/supermarket property sold in California this year.
SRS NNLG’s managing principals Matthew Mousavi and Patrick Luther represented the seller, a partnership from Southern California. They also procured the buyer, a Southern California-based private non-1031 investor.
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