|
|
3/10/26
|
In Murrieta, two single tenant pads leased to Quick Quack Car Wash and Popeyes sold for $6.9 mil. The properties, located at the intersection of California Oaks Rd and Jackson Ave, were sold by an OC-based developer and purchased by a private 1031 exchange investor based in California’s Central Valley.
The two tenant property features two separate, stand alone pads on one 1.78 acre parcel. Quick Quack Car Wash, which is located at 40640 California Oaks Rd, occupies 4.1k sf and was built in 2022. The tenant operates under a 20 year absolute triple net ground lease with approximately 17 years remaining, including 12% rental increases every five years and multiple renewal options.
The Popeyes’ site is located at 40642 California Oaks Road and will occupy 2k sf under a new 20 year absolute triple net ground lease with 10% rental increases every five years. Popeyes is scheduled to start construction soon at the site. The store is not built and open yet, but Popeyes is paying rent.
Both leases offer long term, sustainable rents and no landlord responsibilities, providing stable, predictable cash flow for the buyer.
The property is positioned at the signalized intersection of California Oaks Rd and Jackson Ave, which sees 52,000 cars per day and offers excellent visibility. The site benefits from immediate proximity to Interstate 15, located just one half mile south with 150,000 cars per day, and enjoys frontage along California Oaks Rd, a major retail thoroughfare with 37,000 cars per day.
It is surrounded by daily needs anchors and national retailers, including Target, Albertsons, Lowe’s, Kohl’s, LA Fitness, Barons Marketplace, Bowlero, Chick fil A, Raising Cane’s and more. One block away, Cal Oaks Plaza, which is anchored by Albertsons and Target, remains one of Murrieta’s top performing community centers.
Hanley Investment Group’s Senior Vice President Sean Cox and Executive Vice President Bill Asher represented the seller in the deal. The buyer was repped by Brendan Tyoran and Jake Linsky of Matthews Real Estate Investment Sales. According to Cox, the listing generated multiple qualified offers from California based buyers.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
