|
1/28/16
|
A 9.3k sf, single-tenant retail property occupied by Jack in the Box in Culver City traded hands in a recent, all-cash sale for $2.125 mil ($228/sf). Jack in the Box has been a tenant since the property, located at 5400 Sepulveda Blvd, was built in 1963. This was one of the first Jack in the Box restaurants to open in California.
Justin Mendelson and Ashley Saye of Charles Dunn Company represented the seller, a partnership of two family trusts and two charitable organizations. Jack in the Box Inc, a Delaware Corporation, exercised its right of first refusal after Charles Dunn sourced the original buyer.
This is the first time the property has been available for purchase since 1963. The deal closed escrow in just ten days.
“Ideally situated at the hard corner, signalized intersection of Sawtelle and Sepulveda Boulevards, this free-standing property is within one of the most highly coveted locations for retail investment in all of Los Angeles,” noted Saye. “It is in the heart of a busy retail corridor and is within a submarket of Los Angeles that has experienced new development over recent years.”
|
|
Return to the Archive page
|
|
|
|
|