Adam Friedlander, Senior Vice President at Beta Agency, recently represented the seller in the $7.5 million sale of a Raising Cane’s Restaurant in Carson. The undisclosed buyer was a private California investor completing a 1031 exchange.
According to Friedlander, this transaction marks the highest-priced sale of a fast-food restaurant in California so far this year and is one of only three Raising Cane’s leased investments to trade within the state in 2024. Despite challenging market conditions, selling such an investment with high rent and low cap rate was no easy feat and he expressed satisfaction with the outcome.
The property is newly built (in 2022) and spans over 2,950 square feet under a triple-net lease for twelve years. It enjoys prime positioning across from South Bay Pavilion Mall which boasts over one million square feet of retail space as well as dense surrounding demographics and significant vehicular traffic – all factors that contribute to its appeal according to Beta Agency’s analysis.
