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SRS Brokers Grocery Outlet-Anchored Sale in Norco
SRS Real Estate Partners handled the $6-million sale of a new construction, 18,000-square-foot, single-tenant property occupied by Grocery Outlet at 1428 Sixth Street in Norco. SRS National Net Lease Group’s Matthew Mousavi and Patrick Luther represented the seller, an unnamed local developer. The buyer, an undisclosed family partnership, was represented by Trust Real Estate Services’ Mark Bitterlin.
Luther says, “Discount, essential needs retailers are highly sought after by investors as they provide stability even during economic uncertainty. This high-quality, newly constructed property offered the buyer a 10-year corporate guaranteed lease in a dense, infill area with high barriers to entry for development.”
Grocery Outlet opened its doors in May 2020 and is situated on 1.72 acres. It is the anchor tenant to the new Norco Gateway Shopping Center. Other tenants at the center include Taco Bell and 6,000 square feet of future retail shops.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




