WEST COVINA, Calif., June 5, 2019 /PRNewswire-PRWeb/ -- Jeff Gates announced today that it represented Capital Square 1031 in the sale of a 24 Hour Fitness property located in West Covina, CA.
"This sale once again proves the demand for net leased assets in Southern California remains strong. With the shorter lease, NN aspect, high rent and high price per foot I'm very pleased we were able to achieve the pricing we were," said Jeff Gates, senior vice president of The Kase Group. "Additionally, the Buyers have acquired an excellent asset in the supply constrained market of West Covina, California, situated roughly 18 miles from downtown Los Angeles."
Located at 1530 W Covina Parkway, West Covina, CA, the 37,500-square-foot 24 Hour Fitness included a four story concrete parking garage that added additional value to the transaction.
"We couldn't be happier with the results from the sale of this strategic asset for our investors, and appreciate the professionalism, tenacity, and hand-on teaming approach that Jeff Gates and his group brought to the table in completing this transaction," stated Mike Waddell, president of Capital Square 1031.
The Kase Group was established in 2006 in Northern California. The Kase Group specializes in the brokerage of quality net leased real estate in various markets nationwide, and has sold approximately $3 billion in net leased assets nationwide and over 10 million square-feet of real estate.
SOURCE The Kase Group
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