Wood Investments Companies, Inc., a fully integrated commercial real estate investment company specializing in retail, recently sold a newly developed 4,000-square-foot single-tenant net lease retail pad building occupied by Sherwin-Williams in Beaumont for $3,240,000 at a 4.50% cap rate. The property is located in front of Cinema West’s 2nd Street Cinema and opened last November after signing a 10 year triple net lease with rental increases every five years.
Hanley Investment Group Real Estate Advisors SVP Lee Csenar and president Ed Hanley represented the seller while Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet based private buyer. According to Patrick Wood CEO and president of Wood Investments Companies “The sale was part of our strategic plan when we purchased the property over three years ago.”
