July 14, 2020
Los Angeles-based CBRE won the assignment to market a portfolio of 16 current and former Chase Bank retail properties throughout California for a total asking price of $63.8 million. Offers are due July 21, 2020.
CBRE’s Bill Durslag, Dan Riley, Simon Mattox and Austin Wolitarsky are leading the sale efforts on behalf of MetLife Investment Management (MIM). The team has been closely involved with the portfolio, serving as the exclusive advisor to MIM for the portfolio over the past several years and facilitating a complex lease renewal for the properties in 2019.
The portfolio is split into two portions, which are available separately or together. The first set consists of eleven branches situated in such markets as San Francisco, Santa Cruz, Sacramento, Fresno, San Bernardino and Orange that are leased to Chase on a triple net lease basis. The second portion is comprised of five vacant branches in such locations as Livermore and Concord.
For comments, questions or concerns, please contact Dennis Kaiser