Cassidy Turley BT Commercial Investment Division Significant Deals – June 22, 2011

Investment Services Group, Net Leased Investment Services, Multi-Family Group & Hospitality Group

Published on June 22, 2011


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

Investor Pens Acquisition of Office Depot Property for $11.84 Million at High Profile Ravenswood 101 Shopping Center

June 22, 2011 – Andy Bogardus with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco office and Erik Hallgrimson of Cassidy Turley CPS have collaborated to represent the buyer, a private investor, in the acquisition of a 30,978 SF retail property for $11,840,000 ($382 per square foot). The property is situated within the high-profile Ravenswood 101 Shopping Center in East Palo Alto and is fully leased to Office Depot. Situated along East Bayshore Road, the property is well located and highly visible at the northeast quadrant of the Highway 101 and University Avenue junction, adjacent to IKEA. Other primary neighboring retailers in the Center include Home Depot, Best Buy, Sports Authority and Nordstrom Rack.

 

FedEx Ground Facility Sold in Midwest

June 22, 2011 – Doug Longyear 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 32,000-square-foot industrial facility located in the Midwest. The property is 100% net leased to FedEx Ground Packaging Systems.

 

22-Unit Multi-Family Property Sold in San Francisco for $2.8 Million

June 22, 2011 – Ryan Abel with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s San Francisco office represented buyer Montgomery Partners in the acquisition of a 22-unit multi-family property in San Francisco for $2,800,000 ($127,273 per unit). The property is located at 5136-5150 Geary Boulevard midway between The Presidio and Golden Gate Park and consists of 20 studio units and two retail units. The seller was Jon Hayman.   

 

Sunnyvale Car Wash Ground Lease-Site Soaks Up New Investor

June 22, 2011 – Ander Vazquez with Cassidy Turley BT Commercial’s Investment Services and based in the firm’s Palo Alto office represented the seller in the sale of a 28,548-square-foot parcel at 905 East El Camino Real in Sunnyvale. The property is fully ground leased on a triple-net (NNN) basis to and operated by Sunnyvale Car Wash and gift shop. It is located at the heavily trafficked intersection of El Camino Real and South Wolfe Road, across the street from Golfland USA.  Mr. Vazquez stated, “Demand continues to increase from Investors for secure acquisitions and these ground-lease sites from long-term credit tenants at prime locations are very attractive opportunities.” He is also currently marketing another long-term NNN car wash investment property, Master Car Wash, in Capitola along main thoroughfare Capitola Avenue, in which the tenant has been in operation for over 20 years.

 

6-Unit Apartment Building in Desirable Los Altos Sells for Nearly $2 Million

June 22, 2011 – Bryan Danforth and Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office teamed up to represent the seller in the sale of a 6-unit apartment building in a desirable Los Alto location. The two-story property is well located at 438 Gabilan Street in a quiet neighborhood near the apex of Foothill Expressway and El Monte Avenue. It consists of four (4) large 2-bed/2-bath units of 1,032 square feet and two (2) large 2-bed/1-bath units of 1,193 square feet. The property is highly accessible from multiple major roadways, walking distance to Downtown Los Altos, and is part of the renowned Los Altos school district. The building sits atop an 11,761-square-foot lot.  

 

18-unit Apartment Complex in Redwood City Sells for $1.875 Million

June 22, 2011 – Jamie D’Alessandro, Matthew Thomson and Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office collaborated to represent both parties in the sale of an 18-unit apartment complex in Redwood City for $1,875,000 ($104,167 per unit). The two-story, three-building complex is located at 618-634 Buckeye Street and consists of six studio units, eight (8) 1-bed/1-bath units and four (4) 2-bed/1-bath units. The complex is located near the intersection of El Camino Real and Woodside Road in a prime rental neighborhood and in what is considered as one of the most attractive and healthiest submarkets along the peninsula. The location offers easy access to major roadways and public transportation.

 

Lone Star Steakhouse Property in Midwest Wrangles Up Price of $1.8 Million

June 22, 2011 – Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco along with Jay Hagglund and Eddie Shuai of Cassidy Turley BT Commercial’s Oakland office represented the buyer, a private investor, in the purchase of a 5,055-square-foot restaurant building located in the Midwest for $1,800,000 ($356 per square foot). The property is fully leased and operated by Lone Star Steakhouse, which delivers an authentic Texas-oriented theme. There are currently 108 Lone Star restaurants in operation. 

 

12-Unit Apartment Complex in Central Sunnyvale Sold for $1.74 Million

June 22, 2011 – Bryan Danforth and Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office teamed up to represent the buyer in the acquisition of a 12-unit apartment building in central Sunnyvale for $1,740,000 ($145,000 per unit) at a 6.54% Cap Rate. The property is well located at 402 North Fair Oaks Boulevard between Central Expressway and Highway 101 and is composed of all 1-bed/1-bath units.  

 

Dollar General Property in Southeast Sells for Nearly $1.7 Million

June 22, 2011 – The team of Rick Sanner and Bob Sanner (The Sanner Team) with Cassidy Turley BT Commercial’s Net Leased Investment Services and based in the firm’s San Francisco represented the seller in the sale of a 9,014-square-foot building in the Southeast for $1,677,500 ($186 per square foot). The property is fully leased to Dollar General (DG).

 

Lake of The Sky Inn Sells in Recreationally Robust North Shore Lake Tahoe

June 22, 2011 - Jamie D’Alessandro with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office represented the seller in the short sale of the 23-room Lake of the Sky Inn in Tahoe City. Lake of the Sky Inn is located at 955 North Lake Boulevard. Nestled in the tall pines on the North Shore of Lake Tahoe, the property is just minutes from restaurants, shops and the marina in Tahoe City. Lake of the Sky Inn has a large heated pool in the summer and bike trails, river rafting, golf, fishing, swimming and kayaking are within walking distance. Lake of the Sky Inn also offers shuttles to Squaw Valley, Alpine Meadows and Homewood.

 

Cassidy Turley BT Commercial provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.


Contact:
Mark Bollozos
415.781.8100

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