Single-tenant retail building in Southern California sells for $6.5M
JLL Capital Markets closed the sale of the triple-net-leased Harbor Freight Tools building in an infill Orange County location
NEWPORT BEACH, Calif., December 22, 2020 – JLL Capital Markets announced today that it has closed the $6.5 million sale of a 22,297-square-foot, single-tenant retail building triple net leased to a leading discount tool and equipment retailer in the Orange County community of La Habra, California.
The building is leased on a long-term basis to Harbor Freight Tools, a national retailer established in 1977 that specializes in the sale of high-quality tools and accessories. The building was renovated most recently in 2017 to reflect the new Harbor Freight Tools building prototype. The building is situated on 1.95 acres at 250 N. Harbor Blvd. in La Habra, a northern Orange County residential community. This infill location sees traffic counts exceeding 36,500 vehicles a day and serves more than 128,000 residents within a three-mile radius.
“The net-leased market continues to show signs of strength and liquidity despite the events surrounding COVID-19,” Tyner said. “The market continues to prove that net-leased real estate with a strong credit profile and essential tenancy is as strong as ever.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.