Sold: Grocery Outlet
Location:
Brentwood, CA
Year Sold:
Sold: 2023
Monarch was extremely familiar with the site of this 18,249SF new construction Grocery Outlet, having already sold assets on three corners of the intersection for the developer.
Our team was engaged to execute a quick, efficient sale. We went to market with a full-exposure approach, and quickly generated an offer through an outside broker.
The buyer was a 1031 trade investor from the CA CentralValley, who was entertaining multiple replacement deals. Through our smooth transaction experience we were able to keep the buyer engaged, and we went into escrow as the slab was being poured on the property.
Ultimately we closed at store opening, all-cash, setting a record for the lowest Grocery Outlet cap rate to date.
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