Eureka, Calif – NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the $11.4 million sale of the Eureka Safeway grocery store.
Executive Vice President Doug Sharpe represented the buyer who purchased the property for less than the asking price.
“Opportunities such as these come infrequently: great location, great building, great team. This asset fit perfectly with the unique circumstances presented by the buyer,” said Sharpe of NAI Northern California.
The acquisition of the 49,145 SF Safeway offers the buyer a rare retail opportunity in Eureka as the only national grocery store in town, making it the go-to market. Situated at the northeast corner Harris Street and Harrison Ave., nearly 60,000 drivers pass the store daily.
Because of Sharpe’s professional commitment to relationship building, he was able to bring the buyer and the seller together to reach a mutually beneficial deal. Speaking about the way this deal came together, Sharpe quoted Zig Ziglar, the well-known motivational speaker, teacher and trainer, “‘If people like you, they’ll listen to you; but if they trust you, they’ll do business with you.’”
The Safeway terms include a brand new 20-year absolute NNN lease with fixed rent increases, providing the buyer with an excellent long-term investment that hedges against future market inflation with no landlord responsibilities.
About NAI Northern California
NAI Northern California is a full-service commercial real estate firm serving the Northern California Bay Area. Our team delivers technology-enabled commercial real estate services that create value for our clients, industry, and communities.
NAI Northern California is a partner of NAI Global, the largest commercial real estate brokerage network with more than 400 offices worldwide and over 7,000 professionals completing in excess of $20 billion in commercial real estate transactions globally.
To learn more, visit nainorcal.com.