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, which is occupied by Chase Bank and features a drive-thru ATM, was sold for $2.93 million as part of an absolute triple-net ground lease agreement.
The seller, a private investor based in Bakersfield, was represented by Hanley’s EVPs Bill Asher and Jeff Lefko. On the other hand, the buyer – also a private investor – was represented by Greg Bedell and Lance Mordachini from Progressive Real Estate Partners.
According to Asher: “Through our strong broker relationships with repeat single-tenant bank investors we were able to facilitate this smooth transaction that benefited both parties.” He also noted that this particular branch of Chase Bank had recently relocated but still maintained a robust deposit base within its trade area.
Built in 2022 on an 0.85-acre pad at 2631 Oswell St., the bank building spans over 3,500 square feet and is situated at the signalized intersection of Oswell Street and Mall View Road. It boasts prime positioning in front of an In-Shape gym as well as PetSmart-anchored shopping center.
This successful sale further solidifies Hanley Investment Group’s expertise in facilitating commercial real estate transactions while showcasing their commitment to providing exceptional service to their clients.
