Capital Pacific has recently brokered the sale of 2 single tenant properties. The first was a CVS ground lease in Azusa, CA, with a purchase price of approximately $3.6 million. The Buyer, a family trust from Northern California, moved capital out of the stock market with the goal of finding a quality asset and stable annuity that would provide dependable cash flow at a 6.5% yield. Azusa, CA, is a suburb of the greater Los Angeles MSA. The CVS property is situated on a signalized intersection with high traffic counts.

The second property to close was a Bank of America ground lease. The property sold at a 6.50% cap, with a purchase price of approximately $2.6 million. The Buyer was an all cash exchange Buyer out of Southern California and Capital Pacific was able to facilitate a smooth, seamless escrow which recorded well in advance of the contracted close date.