Updated Jul 2, 2024
$45M Retail Sale Closed At 695 Herndon Ave, Clovis By Mark Lucescu
695 Herndon Ave, Clovis, CA, 93612
$45,000,000
$137/SF
Building Size
326,608 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The Clovis Commons Shopping Center in Clovis, California, was recently sold for $45 million. The retail center spans 326,608 square feet and is home to anchor tenants such as Target, Best Buy, T.J. Maxx, PetSmart, Office Depot, and Dollar Tree.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $45,000,000.00
- Address: 695 Herndon Ave, Clovis, CA, 93612
- Market: Clovis
- Anchor Tenants: Target, Best Buy, T.J. Maxx, PetSmart, Office Depot, Dollar Tree
- Additional Tenants: Round Table Pizza, Farmer Boys, Massage Envy, Sequoia Sandwich Co., El Pollo Loco, Chronic Taco, Verizon Wireless, Starbucks Coffee, Subway, GameStop, Kumon, Menchie’s, Cost Cutters, GNC
Mark Lucescu of Lucescu Realty represented the seller, Brixmor Property Group, in the sale of Clovis Commons Shopping Center to an affiliate of a Southern California-based privately held investment and management company.
On the Map
$45,000,000
$137/SF
Retail
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Clovis 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93