The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 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?



VENTURA COUNTY NEWS
Printer-friendly Version   Email an Associate
Bakersfield Jack in the Box Sells at 3.99% Cap Rate

9/28/15

A private investor from Cypress, CA paid $1.85 mil for a 3.7k sf ($500/sf), single-tenant property that is absolute NNN-leased to a corporate Jack in the Box in Bakersfield. The seller was a Newport Beach-based private investor.

Located at 3002 Ming Ave, Jack in the Box has been the original tenant since the property was developed nearly 50 years ago. The asset features a large monument sign that is visible to more than 41,000 vehicles on a daily basis.

John Redfield, Thomas Chichester, and Joseph Chichester of Faris Lee Investments represented the seller in the deal. The buyer was seeking a passive property offering investment security. The sale closed at a cap rate of 3.99 percent, one of the lowest ever recorded for a Jack in the Box-occupied property nationwide.

“The single-tenant net-leased market is still seeing cap rate compression, especially for well-located, quick serve restaurants featuring corporate name brand tenants like this asset offers. They represent a stable and passive investment for private buyers and family offices that are seeking long-term returns and no landlord responsibilities,” said Tom Chichester.

Chichester added that the property is ideally situated across the street from the successful Valley Plaza Mall, a 1.1 msf retail center, which is the largest and most dominant mall in Central California’s San Joaquin Valley.






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 © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media