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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

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with an $8.3 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first, sets us apart in the industry.

Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

Contact:
Phone: (949) 585-7610