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15th St W Lancaster, Ca, Usa

Eddie Rodriguez Acquires Sprouts Farmers Market In Lancaster, CA For $10.6M
SOLDRetail

Eddie Rodriguez Acquires Sprouts Farmers Market In Lancaster, CA For $10.6M

15th St W Lancaster, Ca, Usa

$10,570,000

$454/SF

Building Size

23,256 SF

Asset Type

Retail

Closing

Jul 24, 2023

AI

A newly constructed Sprouts Farmers Market in Lancaster, CA has been sold for $10,570,000. The property is located on 15th Street West & West Avenue K in the retail market of Lancaster. It offers a total square footage of 23,256, resulting in a price per square foot of $455.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,570,000
  • Address: 15th Street West & West Avenue K, Lancaster, CA
  • Market: Lancaster
  • Square Footage: 23,256
  • Price per Square Foot: $455

Eddie Rodriguez is the buyer of this Sprouts Farmers Market property. The transaction was facilitated by broker Jeff Gates of The Kase Group, who represented Partners, Produce, Inc. in the purchase. The Sprouts Farmers Market anchors a new development in Lancaster, with neighboring retailers including Chick-Fil-A, Dutch Bros, Taco Bell, One Hawaiian BBQ, and more.

Players

Jeff Gates

SRS Real Estate Partners

Broker

$117.9M

vol

5 deals

Broker

Los Angeles Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.50%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93