Broker: George Richmond, Commercial Properties Group The one-year-old corner retail unit at 1586 Johnston Rd., White Rock, tenanted by Pizza Garden sold June 1 for $1.85 million. The sale price averaged $1,077 per square foot, below average for the market, and together with rent escalations included in the 10-year lease, ensures upside for the purchaser. …
Broker: George Richmond, Commercial Properties Group
The one-year-old corner retail unit at 1586 Johnston Rd., White Rock, tenanted by Pizza Garden sold June 1 for $1.85 million. The sale price averaged $1,077 per square foot, below average for the market, and together with rent escalations included in the 10-year lease, ensures upside for the purchaser.
Pizza Garden recently started building out the shell space for their needs and there is no expected date for the grand opening. Based on how slow the permitting process is in White Rock, it would be a miracle if this place was able to open before the end of 2025.
SALE PRICE: $1,850,000
