Arroyo Company is pleased to announce the sale of a two-tenant retail property in Richland, Washington. The 52,527 Square foot building is 100% occupied by Ace Hardware and Hastings. Ace has 4,600 locations worldwide, and Hastings 126 locations. Both tenants recently extended their leases.
This transaction completed the downleg in a 1031 exchange for the buyer, a group of private investors who purchased the property from a Bay Area developer. The seller was represented by Arroyo & Company, headquartered in San Francisco. Pedro Arroyo & David Kram were the Brokers that managed the transaction.
Arroyo & Company specializes in the acquisition and disposition of commercial and multifamily properties. Year to date, Arroyo & Company has over $100,000,000 in off market transactions currently under contract with contingencies removed or closed. Please contact us if you would like a market update, opinion of value, additional information regarding this transaction, or to discuss off market opportunities. firstname.lastname@example.org