Single-tenant retail building in Southern California sells for $6.5M

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.

JLL marketed the property on behalf of the seller, SBH Real Estate Group. Engineering Model Associates, Inc. purchased the property.  

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 JLL Retail Capital Markets team representing the seller was led by Directors Daniel Tyner and Adam Friedlander. 

“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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