Bakersfield, Calif., July 28, 2022 – Beta Agency, a leading commercial real estate brokerage and advisory firm based in Los Angeles, CA, has announced that the firm has completed the sale of a Smart & Final Extra! building located at 1725 Golden State Avenue in Bakersfield, California to an undisclosed buyer for $10.85 million. The property consists of a 26,237-square-foot building on 2.24 acres of land.
Beta Agency’s Adam Friedlander represented the Seller, a private shopping center owner based out of San Diego, California in the off-market sale transaction. Smart & Final Extra! had 15 years of remaining lease term.
The Buyer was in a 1031 exchange and had recently completed the sale of an apartment building. The Buyer was attracted to the long-term lease, tenant profile and the fact that landlord had zero obligations. This sale represents one of the lowest cap rates recorded for a Smart & Final single tenant leased investment.
About Beta Agency
Beta Agency is a leading commercial real estate services firm located in El Segundo, CA. The Beta team implements transaction advisory services and analytics to create exceptional value for its clients. Beta Agency represents over 10 million square feet of retail space throughout California and over 75 brands throughout the country.
