Lee & Associates Orange Completes Sale for $3.46 Million Net Lease Investment
APPLE VALLEY, CA – The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, has closed a $3.46 million sales transaction for two, lease investments located at 15818 & 15824 Apple Valley Road in Apple Valley Calif. The 3,875-square-foot, retail investments consisted of a Jack-in-the-Box and an El Pollo Loco, both freestanding drive-thru restaurant properties. The investment included absolute triple net retail leases with a CAP Rate of 4.8% and more than eleven years remaining on the lease term.
John Son, a Principal with Lee & Associates, successfully represented the seller and buyer, both individual investors. “El Pollo Loco and Jack in the Box are national franchise tenants that are popular with investors because they provide long-term steady income and are management free,” says Son.
Lee & Associates Orange provides the commercial real estate user, owner and developer with real solutions to their business and operational space requirements. Lee Orange has 45 plus professionals practiced in selling and leasing of industrial, office, flex, retail, land, medical and research & development properties. Since 1983, we have assisted clients throughout Southern California with a focus on Orange County, Western Riverside County and the Mid-Counties area of Los Angeles. For the latest news from Lee & Associates Orange, follow us on Facebook (@LeeAssociates); LinkedIn (Lee&Associates-Orange), and Twitter (@LeeAssocOrange).