Charles Dunn Company's Bank Property Group Completes $5.05 Million Sale of a U.S. Bank-Anchored Retail Property in Lynwood, 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 $5.05 million sale of a fully occupied, 9,375-square-foot two-tenant retail property anchored by U.S. Bank in Lynwood, Calif.

Kyle Gulock and Matt Kramer of Charles Dunn Company's Bank Property Group represented the seller, a private investor from Los Angeles. The buyer, a private international investor, was represented by Industry Partners. The transaction closed at a capitalization rate of 5.75 percent and a strong price of $538 per square foot.

"With more than one million people within a square mile of this asset, our Bank Property Group focused on the strong tenancy, as well as the property's intrinsic value being that it is situated within a path of progress," said Gulock.

The property had been on the market several times with other brokerage firms, however, Bank Property Group took a specialized approach to communicate the strength of the tenant at this location to the buyer.

"We have a depth of contacts and resources within the bank property niche and were able to tap into potential investors on a national and international basis," commented Gulock.

Matt Kramer

 "We also set up a meeting with the eventual buyer and the bank manager who was able to clearly communicate the strength of this particular branch and how it serves the local community on a day-to-day basis."

Located at 3645 E. Imperial Highway, the property is situated on a .63-acre parcel and is highly visible to more than 31,800 daily vehicles on one of the region's most well-travelled roadways.

 In addition to being occupied by U.S. Bank, one of the nation's largest financial institutions, the second tenant is union store front office, SEIU Local 99.

For more information on this press release, please contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

 www.charlesdunn.com