Just Closed: Rent-A-Wheel | Ontario, CA
Fortune Favors The Bold | Grow Your Legacy
Agents: Raymond A. Rodriguez | Mathew Freedman
Team: Lucrum Real Estate Group
+ 1031 Exchange up-leg acquisition
+ Corporate backed NNN lease
+ Attractive in place cap rate of 5.0%
+ Closed 100% of list price
+ National tenant with over 136 locations
+ Represented Buyer – A Lucrum Legacy Partner
Congratulations to our valued client on his latest closing and acquisition of a single-tenant NNN investment property located at 960 W. Holt Blvd. in the City of Ontario, California. The property is currently leased to Rent-A-Wheel. The lease is triple net and corporate guaranteed in year 6 of the original 10-year term with two 5-year options to extend.
The Buyer is a Lucrum Legacy Partner whom we have represented on multiple transactions. On this latest collaboration, we are grateful to have assisted him with completing his 1031 Exchange. This included the sale of his down-leg apartment building in Los Angeles and the acquisition of this up-leg property along with a second single tenant NNN property leased to a Carl’s Jr.
When we began this process, our client explained to us that his goal was to sell his apartment building and exchange into less management intensive investments. Lucrum moved quickly to sell the apartment building for a 4.69% Cap Rate and helped him secure and close on this Rent-A-Wheel and a Carl’s Jr. for superior Cap Rates immediately after the Buyer removed contingencies on his apartment building. Our client is thrilled to have successfully seen his vision through and is now enjoying vacation and free from any management responsibilities.
We love helping our clients accomplish their goals and improve their lives. Contact us and be a part of our next real estate success story!!!