SRS Real Estate Partners Brokers $11.35M Retail Real Estate Acquisition of Smart & Final Property in Huntington Park, CA
A Mexico City-based private investor has completed a retail real estate acquisition of a single-tenant grocery property in Huntington Park, California for $11.35 million, according to an announcement from SRS Real Estate Partners. The deal closed at approximately $405 per square foot and involved a 28,000-square-foot building occupied by Smart & Final Extra! at 3111 E. Florence Ave.
The seller was a Los Angeles-based private investor. SRS Real Estate Partners' National Net Lease group represented the transaction, with brokers Joe Chichester, John Redfield, and Kyle Zimmer facilitating the deal.
Retail Real Estate Acquisition Details
The property at 3111 E. Florence Ave., Huntington Park, CA 90255 is a single-building retail asset spanning 28,000 square feet and occupied by Smart & Final Extra!. The $11.35 million purchase price equates to roughly $405 per square foot, according to SRS Real Estate Partners. The transaction also closed at a 5.8% cap rate, per the announcement.
The transaction was brokered through SRS's Capital Markets division. No loan details, year of construction, or occupancy rate were disclosed in connection with the transaction.
Market Context
The source notes that a prior sale at the same address occurred at approximately $17.25 million, or roughly $616 per square foot. That transaction is identified as a separate historical deal and is not directly related to the current acquisition.
SRS Real Estate Partners operates across multiple commercial real estate sectors, including retail real estate, industrial real estate, office real estate, multifamily real estate, and hospitality real estate, with its Capital Markets group specializing in net lease investment sales, 1031 exchanges, and sale-leaseback transactions.
About the Parties
The buyer, identified as a Mexico City-based private investor, acquired the asset through an equity transaction. The seller, a Los Angeles-based private investor, was not identified by name. The brokerage team from SRS Real Estate Partners — Joe Chichester, John Redfield, and Kyle Zimmer — operated through the firm's National Net Lease group within its Capital Markets division.
SRS Real Estate Partners is a commercial real estate services firm with offices across the United States, providing services spanning leasing, investment sales, and capital markets advisory across property types including retail, industrial, office, multifamily, and hospitality.