Progressive Real Estate Partners recently facilitated the successful sale of a triple-net retail strip center in Los Angeles for $3.5 million in all-cash. The 6,300-square foot property is anchored by a popular 7-Eleven and fully leased to three tenants.
The transaction was expertly handled by President Brad Umansky, CCIM and investment sales advisor Lance Mordachini who represented both parties involved. The seller was a private investor from Los Angeles County, while the buyer was also a local investor with other retail properties in the area.
According to Mordachini, there was high demand for this property due to its prime location within an affluent and densely populated trade area as well as its corporate lease with 7-Eleven. This resulted in multiple offers being made on the property but ultimately it sold quickly at just 74 days from listing to closing thanks to Progressive Real Estate’s ability to identify qualified buyers and facilitate efficient negotiations.
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