Beta Agency SVP Adam Friedlander represented the seller of a Raising Cane’s Restaurant located in Carson. The sale price was $7,525,000. The undisclosed buyer was a private California investor in a 1031 exchange.

Friedlander said, “The sale of the Raising Cane’s in Carson represents the highest-priced sale of a fast-food restaurant in California to trade this year. In addition, this is only one of three Raising Cane’s leased investments to trade in California in 2024. Selling a high-rent NNN investment at a low cap rate is a difficult task given existing market conditions. We are very pleased with the results.”

Built in 2022, the 2,950-square-foot restaurant is occupied in a 12-year, triple-net lease. Located directly across from the 1.1-million-square-foot South Bay Pavilion Mall, the property benefits from a dense surrounding demographic and significant vehicular traffic, according to Beta Agency.