Oceanside CA— CBRE announced that Cali Oceanside, LLC has purchased a freestanding NNN leased investment, Jiffy Lube Plus, located 4106 Oceanside Blvd, Oceanside, CA 92056, from Roberts Investment Group for a total consideration of $2,953,000.
“We obtained multiple offers and ultimately created a bidding war not only because of the location of the property but because of our proprietary national database. Additionally, we had multiple backup offers in the event the selected buyer defaulted,” said Mr. Pourcho. This was a record low cap rate for this type of property.”
The building is located at the base of Ocean Ranch, North County’s largest business park which is in proximity of multiple new large commercial developments.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.