1031 EXCHANGE

On June 14, 2013 a sale of a Coco’s in Lakewood, California on Lakewood Blvd completed.  The sale set a new market rate for cost per square foot, price point and cap rate in Southern California for Casual Dining Passive Investment opportunities.  Lior Regenstreif, Vice President Investments of Marcus & Millichap, Encino office represented the Seller and assisted in coordinating the sale to a foreign investor, including obtaining investment funds from a foreign institution as well.  The Buyer, a Chinese business man flew in for the closing, which required strategic timing in coordinating closing documents between escrow, lender and Seller.  Buyer was in the Country for only 36 hours before departing to mainland China again, at which time the transaction closed.  The site sold for $3,280,000, reflecting a 5.49% cap rate on a new 10 year NNN lease that was recently executed in January 2013. 

What Clients Are Saying                                     
 

"It was a pleasure working with you as we appreciated your persistence, professionalism, guidance and your patience in assisting us with our first Real Estate Acquisition. We are looking forward to closing many more transactions with you in the future.'
Mike Nofarad, Private Investor

Contact Us

NNN Deal
in association with Marcus & Millichap

16830 Ventura Blvd. Suite 100
Encino, CA 91436

Lior Regenstreif
First Vice President, Investments
Senior Director, National Retail Group
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Rebekah Zweiban Wallack

Senior Research Analyst
Special Projects Coordinator
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Toll Free: 888.NNN.DEAL
Phone: 818.907.9525
Fax: 818.907.8557