FCA completed a fully realized retail investment in California
WHEATON, Ill., (July 30, 2014) – First Capital Advisors (FCA) is pleased to announce its fully realized retail investment in Tehachapi, Calif.
With joint-venture partner Embree Capital Markets Group, a Texas based developer, acquisition, and asset management group, FCA participated in the development of a 20,707 square foot single tenant net leased building situated on a 2.4 acre lot. The building is triple net leased to Dollar General Corporation and recently sold for $4,850,000, representing a 6.25% cap rate.
“Embree Capital Markets is a proven developer of single tenant retail assets with an impressive track record,” said Chris Pope, Principal at FCA. “It was a great experience to work with them on this successful transaction.”
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.