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| 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
949.278.6224
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