Torrance, CA – October 21, 2010 – (RealEstateRama) — Charles Dunn Company has closed a $3.1 million sale of a 10,000-square-foot retail building at 3100 Gilbert Road in Chandler.
Paul A. Kenworthy of Charles Dunn’s West Los Angeles office represented the buyer OSSA TRUST. The seller was Glenwood Development.
“The OSSA’s retired recently and sold their Santa Monica business at a low cap rate,” said Kenworthy. “They reinvested their cash proceeds in the long-term NNN leased investment which increased their cash flow by 60%.” The property is 100% occupied by La Petite Academy on a long-term lease.
About Charles Dunn Company
Charles Dunn Company is one of the largest full service brokerage firms on the West Coast. Established in 1921, the Los Angeles-based company provides a full complement of real estate services. For more information and office locations, please visit www.charlesdunn.com.