SRS Real Estate Partners and Hanley Investment Group collaborated to facilitate the sale of a 32,000-square-foot property occupied by Sav-Mor Foods for $7.2 million. The property is located at 570 Solano St. in Corning, approximately 25 miles from Chico, and sits on a spacious 2.59-acre lot.
Vice President Alexander Moore of SRS and Senior Vice President Lee Csenar of Hanley worked on behalf of the seller, a private investor based in Redding. The buyer was an investor from Napa Valley.
According to Moore, this location has been highly successful for North State Grocery Inc., which operates over twenty stores across California and Oregon under the Sav-Mor brand name. With its long-term lease agreement including annual increases as well as additional solar revenue streams, this property was an attractive investment opportunity for the buyer in a growing city like Northern California.
The Sav-Mor Supermarket is conveniently situated near other popular national retailers with easy access to Interstate-5 and SR-99 highways while also being just five minutes away from Rolling Hills Casino & Resort.
