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1/24/24
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A NoCal-based family investment entity purchased a new construction, 2.4k sf single-tenant property occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant in Imperial Beach, CA in a $5.7 mil ($2,375/sf) off-market transaction.
Raising Cane’s is located on a 0.69-acre pad at 900 Palm Ave, on the signalized corner of Palm Ave (State Route 75) and 9th St. Retailers at or near the intersection include CVS Pharmacy, Grocery Outlet, Dollar Tree, Chipotle Mexican Grill, Jack in the Box, Starbucks and Five Guys.
Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented the developer and seller, Palm Avenue 111 Partners LLC of Encinitas. The buyer was repped by Scott Ketchum in Newport Beach.
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