Corporate Partners Capital Sells Retail Bldg. for $165 PSF
Orchid Property Management Inc. acquired a 27,600-square-foot, single-tenant retail building in La Mirada, CA, from Corporate Partners Capital Group Inc. for $4.55 million, or approximately $165 per square foot. The cap rate was 6.3 percent.
The freestanding building at 14207 Rosecrans Ave. was built in 1955 and is on 2.08 acres. The property is currently leased to Pep Boys Auto on a 15-year lease. The building features eight auto repair bays and is on the corner of Rosecrans and Valley View avenues.
Martin Cohan and Joshua Levy of Marcus & Millichap represented the buyer and the seller.
Please refer to CoStar COMPS #1595331 for additional information on this transaction.