Record Cap Rate Set By Colliers Team

Retail investment brokers at Colliers International just set a new record cap rate for a single-tenant location with the $18.5M sale in Aliso Viejo of a property occupied by PetSmart (26761 Aliso Creek Rd).

The cap rate for the property was 4.62%, a new national record, according to GlobeSt.

An Orange County private investor purchased the land and building occupied by PetSmart, which is reported as one of the busiest locations in Southern California.

Colliers EVP Jereme Snyder and Colliers SVP Eric Carlton repped the seller, an LA developer.

The deal included an absolute triple-net lease with more than 17 years left on its term with optional renewals. [GS]

Continue reading this story with a free account

Log in or register
Related Topics: Eric Carlton , Jereme Snyder
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

REPORT: Amazon Eyes Next Industrial Push With Plans To Expand Same-Day Deliveries

Fed Raises Benchmark Rate, Intensifying Borrowing Cost Blues

Lone Star Seeks 58% Uplift In Under 3 Years With £175M UK Mall Sale

Inside The Nationwide Jockeying For Opportunity Zones 2.0

Furniture Outlet The Dump Is Getting Dumped In Atlanta

Simon Approaching End Of The Road With Struggling Suburban Boston Mall

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Hines And Rialto Close Office Credit Fund At $1.1B

Chipotle Adding Hundreds Of New Locations Worldwide

'Beyond A Routine Wobble': 10-Year Treasury Clears 5% Ahead Of Key Fed Meeting

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader