Hanley Investment Group Real Estate Advisors and Colliers have successfully completed the sale of a single-tenant property in Alameda. The property, located at 1257 Park St., was occupied by Jack in the Box Drive-Thru and sold for $4 million.
The transaction was facilitated by Hanley’s EVPs Bill Asher, Jeremy McChesney, and Jeff Lefko, along with Colliers’ SVP Cherie Huillade. They represented the seller, CalBay Development – an El Segundo-based developer specializing in net-leased properties. The buyer was a private investor from Thousand Oaks who was represented by Jake Kim from Pinnacle Estate Properties.
According to Asher, there were multiple qualified offers for this high-barrier-to-entry location with a shorter-term lease. However, they were able to secure a buyer who specifically wanted a well-located single-tenant investment leased to a corporate tenant. This particular buyer already owns similar investments including other Jack in the Box locations and found this one particularly appealing due to its 32-plus-year operating history and recent lease extension.
This successful deal is just one example of Hanley’s expertise in handling commercial real estate transactions across various industries.
