JLL Capital Markets has closed the $3.3-million sale of 910 Andersen Dr. in San Rafael, a 2,626-square-foot, single-tenant retail building that is triple-net-leased to fast-casual restaurant chain El Pollo Loco. The JLL Retail Capital Markets team was led by Managing Director Eric Kathrein and Director Warren McClean. Buyer and seller weren’t disclosed.
The property includes a rare Marin County drive-thru and offers proximity to Highway 101, which features 163,000 vehicles per day and provides connectivity from an abundance of surrounding retail within the submarket. The location at 910 Andersen Dr. is corporate guaranteed and currently has 13 years of lease term remaining with options for extension. In addition, the restaurant property benefits from an affluent and robust customer base, according to JLL.
“We are still seeing tremendous interest for high-quality STNL assets like 910 Andersen despite current challenges caused by rising interest rates,” said McClean.
The post Triple-Net El Pollo Loco Fetches $3M appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREJLL Capital Markets has closed the $3.3-million sale of 910 Andersen Dr. in San Rafael, a 2,626-square-foot, single-tenant retail building that is triple-net-leased to fast-casual restaurant chain El Pollo Loco. The JLL Retail Capital Markets team was led by Managing Director Eric Kathrein and Director Warren McClean. Buyer and seller weren’t disclosed. The property includes a rare Marin …
The post Triple-Net El Pollo Loco Fetches $3M appeared first on Connect CRE.