Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 16, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
OC Jack in the Box Trades for Record $1,374/sf

8/15/19

A 2.8k sf, single-tenant retail property fully occupied by Jack in the Box in Mission Viejo has sold for $3.79 mil, which works out to $1,374/sf, the highest price per square foot for a Jack in the Box-occupied asset in Southern California over the last 12 months, per Costar.

Built in 1979 and scheduled to be renovated in the near future, the property is situated on .42 acres at 28651 Marguerite Pkwy, at the major intersection with Avery Pkwy. Jack in the Box recently signed a lease extension for 15 years and has been a tenant at the location for more than 35 years.

Patrick Luther, Matthew Mousavi and Terrison Quinn with SRS’ National Net Lease Group represented the seller, Irvine-based Pacific Castle. The buyer, a Hawaii-based investor, was repped by Arthur Flores of CBRE. The closing cap rate was 4.5%.

“This was a rare opportunity for an investor to own a well-located Jack in the Box property in the affluent south Orange County market of Mission Viejo,” said Mousavi. “The buyer appreciated the new long-term absolute triple net lease extension and the fact that there are no landlord responsibilities, making for a stable, cash-flowing investment within a master-planned community.”

The property is located just off the 5 freeway with direct on/off ramp access, and excellent freeway frontage. It is within a major retail corridor and is one mile from The Shops at Mission Viejo which totals more than 1.1 msf of retail space with anchor tenants including Nordstrom, Macy’s, and Apple, among others. The site is also one mile from Mission Hospital.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media