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Sav-Mor Supermarket in Corning Sells to Napa Valley Investor
SRS Real Estate Partners and Hanley Investment Group arranged 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 St. in Corning, the property is approximately 25 miles from Chico.
VP Alexander Moore of SRS and SVP Lee Csenar of Hanley represented the seller, a private investor from Redding. The buyer was a Napa Valley-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’s also five minutes from Rolling Hills Casino & Resort.
- ◦Sale/Acquisition
