Sunday, April 24, 2016

Charles Dunn Company Completes $2.12 Million Sale of Multi-Tenant Retail Property in San Luis Obispo County, CA

Kyle Gulock
 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.12 million sale of a 3,496-square-foot multi-tenant, NNN-leased property in Atascadero, Calif. (within the County of San Luis Obispo). The tenants include Chase Bank, and Verizon Wireless (franchisee).

Kyle Gulock and Jason Cope of Charles Dunn Company represented the seller, EHA Atascadero LLC, an entity of an Atascadero-based development firm which has projects throughout California. 

The buyer was a Santa Monica-based private trust that was in a 1031 exchange. The transaction closed at a capitalization rate of 4.8 percent and a price per square foot of approximately $602.

“Chase Bank recently signed a 10-year lease,” said Gulock. “The buyer is planning on holding this asset long term as it offered a stable, passive investment.”

The property was developed in 2004 with additional improvements in 2007 and is located 8025 and 8055 El Camino Real. The building is situated on .31 acres at the intersection of Curbaril Ave. and El Camino Real and is within a shopping center anchored by Walgreens.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

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