Hanley Investment Group Real Estate Advisors and Colliers closed the sale of a corporate single-tenant property occupied by Jack in the Box Drive-Thru at 1257 Park St. in Alameda. The purchase price was $4 million.

EVPs Bill Asher, Jeremy McChesney and Jeff Lefko with Hanley, along with Colliers SVP Cherie Huillade, represented the seller, CalBay Development, an El Segundo-based property developer focused on buying and developing net-leased properties. The buyer, a private investor from Thousand Oaks, was represented by Jake Kim from Pinnacle Estate Properties, Inc.

“We generated multiple qualified offers for a shorter-term lease in a high-barrier-to-entry location and secured a buyer who was seeking a well-located single-tenant investment leased to a corporate tenant,” said Asher. “The buyer, who owns a portfolio of similar single-tenant investments, including other Jack in the Box locations, found their 32-plus-year operating history and recent lease extension particularly appealing.”