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11/16/23
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A 2.6k sf, single-tenant retail building that is triple-net-leased to El Pollo Loco in the Bay Area sold for $3.3 mil ($1,269/sf). The property is located at 910 Andersen Dr in San Rafael.
The property includes a rare Marin County drive-thru and offers proximity to Highway 101, which features 163,000 vehicles per day and provides connectivity from an abundance of surrounding retail within the submarket. Additionally, the property benefits from an affluent and robust customer base with a population of over 150,000 and an average household income of approximately $200k within a five-mile radius.
Founded in 1975, El Pollo Loco is a fast-casual restaurant chain that currently operates 490 restaurants across California, Colorado, Nevada, Arizona, Texas, Utah and Louisiana.
The lease is corporate guaranteed and currently has 13 years remaining with options for extension. Eric Kathrein and Warren McClean with JLL Retail Capital Markets were involved in the sale.
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