LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the nearly $7 million sale of a 14,884-square-foot retail property occupied by CVS/pharmacy.
The property is situated on one-acre of land and is located at 800 Palm in Imperial Beach, Calif., south San Diego County.
Hamid Soroudi (lower right photo)and Kimberly Roberts Stepp (lower left photo) of Charles Dunn Company represented the buyer, Los Angeles-based Drooz Trust. The seller was San Diego-based Imperial Beach Promenade, LLC and was represented by Sam Hanna of Marcus & Millichap.
“The buyer had sold two apartment properties in Santa Monica and wanted to complete a 1031 exchange by purchasing a single tenant investment with a corporate guaranteed long-term lease which would give her a higher cash flow and no management fee,” said Soroudi. Contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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