|
|
8/02/24
|
Two SoCal single-tenant retail properties traded hands in separate deals. The properties are located in Manhattan Beach and Oxnard, and are leased to El Pollo Loco and McDonald’s, respectively. The transactions closed at cap rates of 3.59% and 3.51%.
800 N. Sepulveda Blvd, Manhattan Beach |
 |
|
One of the properties, a 2.6k sf structure in Manhattan Beach, sold for $5.1 mil. The property is located at 800 N. Sepulveda Blvd, along Pacific Coast Highway, just one mile from the beach. It offers convenient access from main streets and includes a drive-thru and 38 parking spaces. El Pollo Loco has operated at this location for over 40 years.
The other property, at 110 Riverpark Blvd in Oxnard, leased to McDonald’s, was purchased by a private family trust from a private family trust for $4.65 mil. The 3.5k sf property is off U.S. 101, surrounded by national tenants and strong demographics with an average population of nearly 130,000 within a three-mile radius and an average annual household income of $114k. The one-acre lot includes a double drive-thru and 27 parking spaces.
CBRE’s Alex Kozakov, Patrick Wade, Matthew Greenberg, Jack Webber, and Bo Henderson, represented the sellers in both transactions, as well as the buyer for the Manhattan Beach property, 800 Manhattan LLC.
“Despite macro-economic challenges, we continue to see robust demand for premier single-tenant net lease locations,” said Henderson. “Both sales, conducted on an all-cash basis, reflect the strength and resilience of best-in-class assets that can enhance net income and provide a hedge against inflation.”
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
