Lee & Associates Closes 97,595-Square-Foot Retail Sale
Torrance, CA – March 15, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the sale of a 97,595-square-foot property at 310 Army Trail Road. The price of the transaction was not disclosed.
“It’s common strategy these days for retailers that historically bought and built locations to enter into short-term leases to prove up a market,” said Joe Herron, senior vice president of Lee’s Chicago office, who represented the buyer, American Sale Corp., a distributor of home recreation products. “Once proven through sales performance, the decision to buy is easy.”
According to Herron, the buyer made the move to purchase after a successful two-year leasing period in the market and plan to continue operating their business. Representative tenants include American Sale, Crossway Books, Back To Bed and Executive Tans. Located on 6.94 acres of land, the 4-unit property was built in 2001 and is fully leased.
The seller, Blue Vista Capital Management, was represented by Mike Havdala of HSA Commercial Real Estate.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 730 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
