SRS Real Estate Partners has completed the $4.64-million sale of a single-tenant property occupied by Mor Furniture located at 1720 W. Olive Ave. in Merced. SRS SVP Alexander Moore and Nick Frechou of Retail California represented the seller, Wood Investments Companies, a Southern California-based investment group. The buyer was a private investor from Beverly Hills.
“This transaction presented investors with the opportunity to acquire a well-located, institutionally maintained retail asset backed by a corporate-guaranteed triple-net lease,” said Moore. “The property’s location within a strong retail corridor, combined with Merced’s continued population growth and expanding employment base, made it especially attractive.”
Built in 2010 and situated on 2.15 acres, the 21.710-square-foot Mor Furniture store is within a Lowe’s-anchored retail center that also includes Big 5, Dollar Tree, Ashley Furniture, Panda Express, and Del Taco, among others. Fast-growing Merced has seen a 44% population increase since 2000.
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