Hanley Investment Group Arranges Sale of Single-Tenant NNN Del Taco in Los Angeles for $1,400 PSF

CORONA DEL MAR, CALIF. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, completed the sale of a single-tenant absolute net-leased Del Taco property located at 2060 S. La Cienega Boulevard in Los Angeles, Calif. The purchase price was $2.5 million or $1,386 per square foot. The property sold at a cap rate of 3.63% — a record low for a freestanding Del Taco nationwide, according to CoStar Group.

Hanley Investment Group Senior Vice President Jeremy McChesney represented the seller, a private investor from Orange County, Calif. The all-cash buyer, a local family trust, was represented by Shah Noorvash with Coldwell Banker Commercial in Beverly Hills, Calif.

The 1,804-square-foot Del Taco building was built in 1965 on a .24-acre lot at the hard-corner signalized intersection of La Cienga Boulevard and Cadillac Avenue with an estimated 83,000 cars per day. The Del Taco 24-hour restaurant has a drive-thru and was completely re-modeled in 2004.

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Hanley Investment Group

Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment brokerage firm with a three billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations.

Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved.

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Phone: (949) 585-7610

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