Coastal Commercial Inc Acquires Vans-Occupied Retail Property In Long Beach For $4.3M

The SRS Real Estate Partners' National Net Lease Group has successfully closed a transaction for a single-tenant retail property in Long Beach, CA. The property, located at 5232 2nd Street, was sold for a total price of $4,325,000. The retail space spans across 3,749 square feet, resulting in a price per square foot of $1,154. This sale showcases the strong demand for quality retail assets with reputable tenants.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $4,325,000
• Address: 5232 2nd Street
• Market: Long Beach

The buyer's representative in this deal was Nathan Holthouser from Coastal Commercial Inc. On the other hand, representing the seller's side were Chris Tramontano and John Redfield from SRS Real Estate Partners. This transaction highlights the interest of investors in acquiring retail properties with reputable tenants, leading to a high price per square foot.