The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 14, 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?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Mexican Restaurant Property in Ontario Goes for $845/sf

10/27/23

A free-standing, 5.5k sf single-tenant Mexican restaurant property occupied by Culichi Town in Ontario traded for $4.65 mil ($845/sf). Built in 2001, the property is situated on 1.37 acres at 4423 Mills Circle and is an outparcel at Ontario Mills Mall.

The Culichi Town property is a new prototype concept for future restaurants and is located at the intersection of Fourth St and Milliken Ave, just off Interstate 15. The restaurant is a growing brand with approximately 22 locations.

Matthew Mousavi and Patrick Luther with SRS Capital Markets represented the seller, a developer based in Southern California. The buyer was Culichi Lounge, Inc. The closing cap rate was 5.59%. Terrison Quinn and Zach Leffers of SRS arranged the lease with Culichi Town on behalf of the seller.

“The property has nine years remaining on its corporate-guaranteed, absolute triple-net lease and due to its location, we received strong interest,” said Mousavi. “As an outparcel to the 1.6 msf Ontario Mills Mall, the restaurant has been performing well with area visitors and residents. We were able to secure multiple offers, finance, and ultimately move forward on a successful close.”





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