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Grocery Outlet Building in Imperial Beach Sold for $7.2M

Tri Star Hotel Investments Aquires Retail Building in Breakwater Town Center
February 21, 2018
Tri-Star Hotel Investments, Inc. purchased the retail building at 881 Palm Ave. in Imperial Beach, CA from Sudberry Properties, Inc. for $7.15 million, or about $447 per square foot.

The 16,000-square-foot building was constructed in 2017 within the Breakwater Town Center. The building is occupied by Grocery Outlet, which serves as the anchor tenant for the center. Other major tenants in the center include Starbucks and Chipotle.

Gleb Lvovich and Nick Foster of HFF teamed up with Don Moser and Matt Moser of Retail Insite in representing the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4129961 for more information on this transaction.
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