LOS ANGELES, CA, July 23, 2012 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3,705,000 sale of a single-tenant retail property occupied by Marsh Supermarket located at 11865 Hamilton Ave. in Cincinnati, Ohio.
Michel Hibbert (lower right photo) of Charles Dunn Company represented the Los Angeles-based buyer, BH Marsh Investment LLC.
The seller was MCI Hamilton Ohio Grocery LLC and was represented by Bob Tuller and Tom Baginski of Cassidy Turley. The closing cap rate was 10.34 percent.
“There is a large amount of capital in California seeking real estate opportunities. Single-tenant retail properties outside of the state can present better annual returns yet offer the security of a tangible asset you can’t get from stock market investing,” said Hibbert.
Hibbert added: “We identified a well-located NNN-leased, single-tenant property with a well-performing tenant that is on a long-term lease. This acquisition provided the buyer with a favorable cap rate as well as no property management responsibilities.”
The free-standing property totals 32,117 square feet and is situated on nearly 9 acres of land.
Contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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