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Sacramento, Calif. — Coldwell Banker Commercial Alliance Irvine, CA has closed the sale of a newly constructed Smart and Final Extra! grocery store in Sacramento for $10 million.
The property, which was completed in December 2014, is a 27,870-square-foot freestanding building situated on a 2.90-acre site. The triple net lease is for 15 years with four, five-year renewal options, and closed at a 5.25 percent cap rate. Executive Vice President Scott Hook represented the seller in the transaction.
Smart & Final Extra! is a grocery store concept with over 70 locations. Smart & Final Stores Inc. operates approximately 250 stores.