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.”

Jack Resnick & Sons announced a new 11-year, 13,284-square-foot lease with investment firm Quest Partners at 110 East 59th Street in the Plaza District. Quest Partners will move from 126 East 56th Street to the entire 36th floor of the 37-story office tower in spring 2025. Quest Partners, an alternative asset management firm founded by Nigol Koulajian in 2001, manages $2.5 billion in assets. 

Hugh McDonald and Munish Viralam of CBRE represented Quest Partners, while Brett Greenberg and Fran Delgorio represented Jack Resnick & Sons in-house. Quest Partners joins other companies like Cantor Fitzgerald, Estée Lauder, Royalty Pharma, Mason Capital and ZMC Advisors at 110 East 59th Street. Resnick is also marketing four tower floors of 13,284 square feet each, including the penthouse.