Hanley Investment Group Real Estate Advisors arranged the sale of two standalone buildings occupied by a Chipotle Mexican Grill and an adjacent Starbucks Drive-Thru in Rancho Cucamonga. The sales price was $6.22 million.

EVPs Bill Asher and Jeff Lefko of Hanley represented the seller, Chase Partners Ltd., based in Glendale. The buyer, a private investor based in Los Angeles, was represented by Shirley Kim at Epique Realty, also of Los Angeles.

The property involved a complete rehabilitation of the facility and the expansion of Starbucks by the developer, Chase Partners Ltd., a leading retail and industrial developer in Southern California since 1993. Michael Carter served as the project manager for Chase.

“We generated multiple qualified offers primarily from Southern California-based buyers and leveraged our extensive broker relationships to procure a repeat all-cash buyer, ensuring a smooth and timely closing by year-end,” said Asher.

Hanley Investment Group Real Estate Advisors arranged the pre-sale of a new property leased to Chipotle Mexican Grill with a drive-thru “Chipotlane” at Anatolia Marketplace shopping center in Rancho Cordova, , an affluent suburb of Sacramento. The absolute NNN ground lease, which sold for $4.34 million, marks the 19th Chipotle property sold by Hanley Investment Group in the past 36 months.  

EVPs Bill Asher and Jeff Lefko represented the seller, Sacramento-based Anatolia Marketplace, LLC, and the buyer, a private 1031 exchange investor based in the Bay Area.

“We generated multiple offers and procured a 1031 exchange buyer within three weeks of marketing the property, a testament to the strength of the location and credit tenancy,” said Asher. “We secured the buyer while the property was under construction and closed escrow approximately one month before Chipotle opened for business and started paying rent.” Chipotle is expected to open in early September 2024.

The 2,325-square-foot Chipotle building sits on a 0.77-acre parcel at 4001 Sunrise Blvd. Chipotle is expected to open there in early September.

Pictured: A representative Chipotle drive-thru.

Hanley Investment Group Real Estate Advisors and Oaks Commercial Real Estate arranged the sale of a single-tenant property occupied by a McDonald’s Drive-Thru in Fountain Valley. The sale price was $3.85 million for the absolute triple-net ground lease at a 3.55% cap rate.

Hanley EVPs Bill Asher and Jeff Lefko, in association with Fred Encinas of Oaks Commercial Real Estate of Eastvale, represented the seller, a Newport Beach-based family trust. The buyer, an all-cash, 1031 exchange buyer based in Fountain Valley, was represented by Robert Tran of HPT Realty in Westminster.

“We generated multiple qualified offers at sub-4% cap pricing and secured a local all-cash, 1031 exchange buyer who resides minutes from the property,” Asher said. “With seven years remaining on an initial 20-year lease term, we achieved record pricing for a McDonald’s with 5% increases every five years and a shorter-term lease.”

Built in 2011 on 1.04 acres, the 3,500-square-foot McDonald’s is located at 11321 Talbert Ave., an outparcel adjacent to a Costco. According to Placer.ai data, it’s among the top-performing McDonald’s locations nationwide.

Hanley Investment Group Real Estate Advisors arranged the sale of a new-construction, single-tenant property occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant in Imperial Beach, . The sale price in this off-market transaction was $5.7 million. 

EVPs Bill Asher and Jeff Lefko represented the developer and seller, Palm Avenue 111 Partners, LLC of Encinitas. The buyer, a family trust based in Northern California, was represented by Scott Ketchum in Newport Beach.

“We procured an all-cash California-based 1031 exchange buyer specifically seeking an absolute triple-net quick serve drive-thru investment in California,” said Asher. “We secured the buyer within their 1031 exchange identification period, opened escrow shortly after Raising Cane’s opened for business and closed the transaction in 40 days.”  

Hanley Investment Group Real Estate Advisors arranged the sale of a new-construction, single-tenant Raising Cane’s Chicken Fingers Double Drive-Thru restaurant within Santa Maria’s Enos Ranch mixed-use development for $5.1 million.  

VPs Alexander Moore and Sean Cox, along with EVP Kevin Fryman, represented the seller, College West Partners, L.P. of Tustin, and the buyer, a private investor based in Los Angeles.   

“We closed escrow within 62 days from our listing date while eight other single-tenant Raising Cane’s were on the market in California,” said Moore. “We procured a direct all-cash investor with short due diligence and closing time frames who owned multiple Rasing Cane’s restaurants in California and was not in a 1031 exchange.” 

Cox added, “Single-tenant QSR drive-thrus leased to national corporate tenants continue to experience the highest demand from net lease investors in today’s market.”

El Segundo-based Beta Agency has completed the sale of a Rally’s fast-food restaurant in Porterville. Adam Friedlander, SVP of Beta, represented both the seller and buyer of the 30,056-square-foot property located at 1230 W. Henderson Ave. The sale price was $2,030,000.

Rally’s has been an established presence at this location since 2013. Four-and-a-half years remain on the primary triple-net lease term.

Friedlander said, “The successful sale of the Rally’s restaurant serves as a testament to the vibrant potential within Porterville’s commercial real estate market. This achievement underscores our unwavering commitment to consistently deliver exceptional results for both sellers and buyers operating in the dynamic and evolving landscape of commercial retail space.”