Torrey Financial Group Sells Single-Tenant Retail Property in Bakersfield, California for $2.6M

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BAKERSFIELD, CALIF. — San Diego-based Torrey Financial Group has sold a renovated, single-tenant retail property in Bakersfield. A Los Angeles-based investor acquired the asset for $2.6 million.

The 8,302-square-foot building was originally constructed in 2013 and was fully renovated in 2025. AutoZone occupies the property on a new 15-year triple-net lease featuring 10 percent rent increases every five years and a 20-year transferable roof warranty. The property is located at 1125 Olive Drive.

Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer in the deal.