Santa Clarita, CA – July 25, 2023 – Managing Director Randy Cude and Senior Associate Connor Quan of Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of a retail/automotive facility located at 25150-25158 Rye Canyon Road, Santa Clarita, California, for a purchase price of $3.1 million. Spectrum CRE™ represented the Buyer.
This freestanding automotive repair facility spans 6,100 square feet and is located in the rapidly growing Santa Clarita region of Los Angeles County. The property boasts a spacious showroom, high ceilings, multiple service bays for automotive maintenance, ample land, as well as ample parking.
As part of a 1031 exchange, our client expressed interest in an automotive facility in both Santa Barbra and Hawthorne, California. According to Randy Cude “Our dedicated team embarked on an intensive research process, diligently searching for potential investment opportunities. Through our efforts, we were able to uncover a remarkable portfolio of automotive repair facilities before they even entered the market.”
With a piqued interest in automotive assets, this property presented an ideal triple net investment opportunity for our client. The property is currently being utilized by one of California’s premier automotive service providers.
This was a $3,100,000.00 transaction.
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