Corona, California – Net Lease Properties has information from California today. A Commercial Real Estate Investment team generated a breakup of a commercial property parcel for a retail center in Corona. They in turn had two sales to complete transactions in the Shops at Sycamore Creek.
The one Investment Property has a 20 year, ground lease for a Von’s fuel station. This Ground lease is a “NNN” Triple Net Lease on the 23,087 square foot Investment Property.
The second net lease property is a 12,900-square-foot single-tenant freestanding commercial property. This Investment Property is leased to CVS with a drugstore and is on 1.89 acres.
The “NNN” Triple Net Lease property leased to Von’s fuel was sold for $2.13 million. The Buyer was a Family Partnership and purchased this net lease investment with all cash.
YFP Sycamore Creek LLC bought the Net Lease Investment leased to CVS for $4.93 million. This buyer also paid all cash for this net lease property. These two net leased properties had a cap rate of under 7%.
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