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Seaside, Calif. — Savills Studley’s National Retail Services Group has arranged the $16 million sale of a triple-net leased, 119,000-square-foot Home Depot located in Seaside.
Kyle Miller and Bill Bauman of Savills Studley represented the seller, New York Life Real Estate Investors, in the transaction. Hovercraft LLC purchased the property with a cap rate in the 3 to 4 percent range. Home Depot’s lease runs through 2032.