Joseph Gabbaian Of NAI Capital Represents Buyer In $2.52M Popeyes Retail Deal

The retail property at 5133 Florence Avenue in Bell, California was sold for $2,525,000, featuring a 2,564 square foot space. The property, housing a Popeyes franchise with a strong tenant, is under a long-term absolute NNN Lease with 20 years remaining and two 10-year options. The transaction was facilitated by Joseph Gabbaian of NAI Capital representing the buyer and David Ghermezian of Newmark representing the seller, an LLC, at a 4.75% cap rate.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,525,000
• SF: 2,564
• Address: 5133 Florence Avenue
• Market: Bell
• Buyer's Rep: Joseph Gabbaian - NAI Capital
• Seller's Rep: David Ghermezian - Newmark
• PPSF: $985

NAI Capital's EVP Joseph Gabbaian played a crucial role in the acquisition, representing a private investor. He highlighted the property's appeal, emphasizing its new construction, long-term lease structure, and the strong growth of Popeyes as factors contributing to its attractiveness for the buyer's portfolio.