A Whole Foods Market in Santa Monica, California, has sold for $54 million. Deka Immobilien, the real estate investment arm of Germany’s Deka Group, bought the 29,000-square-foot single-tenant retail building that is triple-net leased on a long-term basis to the Amazon-owned grocery store.

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Grocery stores emerged from the pandemic as in-demand assets, and an international investor is betting big on that trend locally. Germany-based Deka Immobilien has shelled out nearly $54.3M to acquire the Whole Foods Santa Monica,

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Deka Immobilien has acquired a single-tenant retail property in Santa Monica for $54.25 million from Tooley Interests LLC. The 29,064-square-foot property is fully occupied by a Whole Foods grocery story.