Two Retail Parcels at Chino’s Country Fair Trade for $6M
SRS Real Estate Partners’ National Net Lease Group (NNLG) has completed the sales of two single-tenant retail outparcels at Country Fair Shopping Center in Chino, CA. The sales of the quick-service restaurant buildings, currently occupied by Wienerschnitzel and Carl’s Jr. traded for a total of $6.1 million. The buyers were separate California-based private investors.
“Breaking up the two assets to sell separately created a larger potential buyer pool, maximizing the ultimate value for each property. We were able to secure two all-cash buyers at a 3.75% and 4.0% cap rate. These sales are testimony that buyers are still paying aggressive cap rates for well-located investment properties with strong fundamentals,” said SRS NNLG’s Matthew Mousavi who represented the seller along with the firm’s Patrick Luther.
The 1,600-square-foot Wienerschnitzel property sold for $2.4 million and the 3,800-square-foot Carl’s Jr. asset was purchased for $3.7 million. Both outparcels are located on Central Avenue in Chino.
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Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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