|
|
11/04/21
|
A San Diego-based high net worth investor based investor purchased a 4.1k sf, Raising Cane’s Chicken Fingers-occupied property in San Bernardino for $8.2 mil in an all-cash deal. We’re told that the sale, which works out to $2,006/sf, is the highest price point for a Raising Cane’s property sold to date on a national basis and the highest price for any quick service restaurant ever in San Bernardino County (per CoStar).
Built in 2017, the property is situated on 1.24 acres at 1857 S. Tippecanoe Ave and features a drive-thru. Raising Cane’s has more than 11 years remaining on its absolute triple net lease.
The property is strategically positioned on a primary retail corridor and is near the Interstate 10 on/off ramp. The site also has a large monument sign providing visibility to more than 255,000 residents and 142,000 employees that are within a five-mile radius.
Matthew Mousavi and Patrick Luther with SRS Real Estate Partners’ National Net Lease Group represented the seller and developer, an affiliate of Red Mountain Group. The buyer was repped by Jim Casale of Lee & Associates.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
