Hanley Investment Group Real Estate Advisors has arranged the sale of two adjacent single-tenant retail pads in Murrieta, with a combined price of $6,900,000. The pads are leased to Quick Quack Car Wash and Popeyes, and were acquired by a private investor completing a 1031 exchange. Both parcels traded as ground-leased, single-tenant assets, reflecting continuing investor interest in net-leased retail.
The transaction was completed before Popeyes began construction and opened for business, meaning the buyer acquired one fully operating Quick Quack Car Wash pad and one pad leased to Popeyes on a pre-construction basis. The properties are located at 60640 and 60642 California Oaks Rd., giving the buyer side-by-side sites with national-brand tenancy under triple-net ground leases.
Hanley Investment Group reported that multiple qualified offers were generated from California-based buyers before the seller selected an all-cash 1031 exchange purchaser. According to the brokerage team, the marketing strategy emphasized Quick Quack Car Wash’s upcoming 12% rent increase as a key component of the value proposition, helping to support the achieved pricing for the seller.
The seller was described as a private developer based in Orange County. Senior Vice President Sean Cox and Executive Vice President Bill Asher of Hanley Investment Group represented the seller in the disposition. On the buy side, the private 1031 exchange investor, based in California’s Central Valley, was represented by Brendan Tyoran and Jake Linsky of Matthews Real Estate Investment Sales.
Both Quick Quack Car Wash and Popeyes operate under triple-net ground leases at the site, shifting most operating expenses to the tenants and making the pads suited to income-focused investors seeking predictable cash flow. The combination of national credit tenants, a scheduled rent increase at Quick Quack, and the all-cash 1031 exchange structure framed the deal as a stabilized net-lease investment with a built-in near-term income uplift for the buyer.
