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California  + Net Lease  | 

Bakersfield Chase Bank Trades to Private Investor

Hanley Investment Group Real Estate Advisors and Progressive Real Estate Partner arranged the sale of a newly constructed, single-tenant property occupied by Chase Bank with a drive-thru ATM in Bakersfield. The purchase price was $2.93 million for the absolute triple-net ground lease.

EVPs Bill Asher and Jeff Lefko of Hanley represented the seller, a private investor based in Bakersfield. The buyer, a private investor based in San Bernardino County, was represented by Greg Bedell and Lance Mordachini of Progressive Real Estate Partners.

“We procured a repeat single-tenant bank investor through a longstanding broker relationship. This resulted in a smooth and timely transaction that benefitted both the buyer and seller,” said Asher. He added that this particular Chase Bank branch was a relocation and had a very strong deposit base within the trade area.

Constructed in 2022, the 3,576-square-foot bank building is located at the signalized intersection of Oswell Street and Mall View Road at 2631 Oswell St. It sits on a 0.85-pad in front of an In-Shape and PetSmart-anchored shopping center.

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Hanley Investment GroupProgressive Real Estate Partners

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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