Hanley Investment Group Real Estate Advisors recently facilitated the sale of a newly constructed, single-tenant property in Imperial Beach for $5.7 million. The property is occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant.
EVPs Bill Asher and Jeff Lefko represented the developer and seller, Palm Avenue 111 Partners, LLC of Encinitas. The buyer was a family trust from Northern California, represented by Scott Ketchum in Newport Beach.
According to Asher, they were able to secure an all-cash buyer through their extensive network who specifically wanted an absolute triple-net quick serve drive-thru investment in California. This deal was completed within 40 days during the buyer’s 1031 exchange identification period.
The transaction highlights Hanley Investment Group’s expertise in facilitating off-market deals and their ability to quickly close transactions for clients seeking specific investment opportunities in high-demand markets like California.
