Lee & Associates Negotiates $6.9 Million Sale at Auto Retail Park in Covina

 
 
1101 N. Azusa Ave., Covina, Calif.
1101 N. Azusa Ave., Covina, Calif.
COVINA, Calif. - Jan. 13, 2014 - PRLog -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has negotiated the $6.9 million sale of an automotive/retail park and storage facility in Covina, Calif.  Brian Garbutt, Adam Wicker and Dave Smith, all senior vice presidents in Lee’s Irvine office, represented the seller, RJ Covina Investors, LLC.   The buyer, Monrovia Stor-All, LLC, was represented by Edward Matevosian of CBRE.

“The buyer saw this as an opportune moment to invest in a great stabilized asset,” Garbutt said.   “This property offered the buyer, who was in an exchange, stable cash flow with upside in the storage.”

Located at 1101 N. Azusa Ave., the property consists of a 20,529-square-foot multi-tenant auto/retail park and a 42,869-square-foot self storage facility.

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About Lee & Associates

Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial
real estate services. Additional information is available at www.lee-associates.com.

Media Contact
Samantha Desmond, The Hoyt Organization
310-373-0103
sdesmond@hoytorg.com
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Source:Lee & Associates
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Tags:Cre, Sale, Retail, Automotive, Lee & Associates
Industry:Business, Real Estate
Location:Covina - California - United States
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