Hanley Investment Group Real Estate Advisors and Progressive Real Estate Partner have successfully facilitated the sale of a newly constructed, single-tenant property in Bakersfield. The property is occupied by Chase Bank, featuring a drive-thru ATM. The transaction was valued at $2.93 million for the absolute triple-net ground lease.
EVPs Bill Asher and Jeff Lefko of Hanley expertly represented the seller, a private investor based in Bakersfield. On behalf of the buyer, Greg Bedell and Lance Mordachini from Progressive Real Estate Partners provided their expertise as well.
Through an established broker relationship, we were able to secure a repeat single-tenant bank investor which resulted in an efficient and timely transaction that benefited both parties,” stated Asher confidently. He also noted that this particular Chase Bank branch was relocated but has maintained strong deposits within its trade area.
The 3,576-square-foot bank building was recently constructed in 2022 at 2631 Oswell St., situated on a prominent corner lot at Oswell Street and Mall View Road with high visibility due to its signalized intersection location. It occupies 0/85 acres directly adjacent to In-Shape Fitness Center & PetSmart anchored shopping center.
This successful sale demonstrates our commitment towards delivering exceptional results for our clients through strategic partnerships,” concluded Lefko enthusiastically.
