Cassidy Turley BT Commercial Investment Division Significant Deals – January 19, 2011

Published on January 19, 2011


San Francisco - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today….

All American Mini-RV Storage Facility in Napa Packs Up Price of Nearly $6.5 Million

January 19, 2011 – Tom McMullan with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented seller GBH-NMS, LLC in the sale of the 52,875-square-foot All American Mini Storage Facility in Napa for $6,450,000 ($115 per square foot). The property is situated on 12.62 acres of land and consists of 52,875 square feet of storage space plus a management office and on-site residence. There are 427 self-storage units in 15 buildings and 212 RV spaces, plus an on-site fire protection tank. The units were over 90% leased, while the RV spaces carry a long waiting list. Roughly 5.5 acres of the 12.62 acre site is vacant for potential expansion. The facility was constructed in 1987 and is located at 1111 Soscol Ferry Road. The buyer was 1111 Soscol Ferry Mini Storage.


Expanded FedEx Ground Facility in Northeast Drives Price of Over $6 Million

January 19, 2011 – Doug Longyear and Andy Bogardus with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office joined by Nicola Heryet of Cassidy Turley New York represented the seller in the sale of a 43,491-square-foot industrial facility located in the Northeast for $6,025,000 ($139 per square foot). Originally built as 30,391 square feet in 2006, the property was expanded by ±13,100 square feet in August 2010.The near five-year old facility is 100% triple net leased to FedEx Ground Packaging Systems for 10 years, with a term expiring in fall 2020.


Two Walgreens Properties Sold in Northwest; Each Fetch in Neighborhood of $6 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office brokered the sale of two Walgreens-occupied buildings in the Northwest for a combined value of $11,951,000. The first property was a 13,870-square-foot freestanding retail building that sold for $6,280,000 ($453 per square foot). And the second property was a 9,876-square-foot freestanding building that sold for $5,671,000 ($574 per square foot). Walgreens has long-term lease agreements in place on both buildings. The Sanners represented all parties in both non-related transactions.


Walgreens Property in Austin Sells for Over $5 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of a 14,689-square-foot freestanding retail building in Austin for $5,0515,000 ($341 per square foot). Built in 2008, the property is 100% leased long-term to Walgreens.


CVS/pharmacy Property in Houston Sold for $3.7 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of a 13,013-square-foot freestanding retail building in Houston for $3,700,000 ($284 per square foot). The five-year old property is fully leased long-term to CVS/pharmacy.


Chase Bank Ground Lease Site in Orlando Sells for $2.2 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented the seller in the sale of a ±0.97 acre (42,235-square-foot) parcel in Orlando for $2,235,000 ($53 per square foot). The property is ground-leased to Chase Bank, which constructed in 2010 and operates a 4,200-square-foot full service bank facility on the site.


Chili’s Bar & Grill Ground Lease Site in Florida Sold for Over $1.9 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of a ±1.56 acre (67,954-square-foot) parcel in Florida for $1,915,000 ($28 per square foot). The property is ground-leased to Chili’s Bar & Grill, which constructed one of its prototypical restaurant/bars on the site in 2008.


Cracker Barrel Property in Houston Sold for Nearly $1.75 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented both buyer and seller in the sale of a 10,000-square-foot freestanding retail building in the Houston for $1,725,000 ($173 per square foot). The property is fully leased to Cracker Barrel Old Country Store.


Dollar General Property in Florida Commands Price of Over $1.5 Million

January 19, 2011 – Rick Sanner, Bob Sanner and Tom Baginski with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented collaborated to broker the sale of a 9,014-square-foot freestanding retail building in Florida for $1,530,000 ($170 per square foot). The property is fully leased to Dollar General. The Sanners represented the seller and Baginksi represented the buyer in the transaction.


Jack in The Box Property in Southwest Pops Up Price of $1.2 Million

January 19, 2011 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office represented the buyer in the acquisition of a 2,592-square-foot restaurant located in the Southwest for $1,225,000 ($473 per square foot). The tenant of the property is Jack in The Box.


AutoZone Ground Lease Property in American Canyon Steers In Price of $1.2 Million

January 19, 2011 – Andy Bogardus and Chris Sheldon with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office in collaboration with Mark Koenig and Annie Jabuka of Terranomics Retail Services in the firm’s North Bay office represented the seller in the sale of a ±0.79 acre (34,369 square foot) parcel in American Canyon for an even $1,200,000 ($35 per square foot). The property is fully ground leased to AutoZone.


38-Unit Apartment Complex in Heart of Sunnyvale Sold; 95% Occupied

January 19, 2011 – Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office represented both buyer and seller in the sale of the Villa Verde apartment complex in Sunnyvale. Villa Verde is a three-building portfolio situated on adjoining parcels totaling 38 units. The property is well located in the heart of Sunnyvale, west of the 101 corridor near numerous large employers. The property had 95% occupancy at the close of escrow and significant upside with rents well below market.


5-Unit Apartment Building Street in Mountain View Sold for Over $1.1 Million

January 19, 2011 – Patrick Conkin with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office represented both parties in the sale of a completely renovated five-unit apartment building in Mountain View for $1,150,000 ($230,000 per unit). The 3,550-square-foot building is located at 1645 Mercy. The property provides direct access to El Camino Real, Highway 101 and Highway 85, and is walking distance to Castro Park and less than a mile from downtown Mountain View.

 

Contact:
Mark Bollozos
415.781.8100

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