IRVINE, CA – January 30, 2013 – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that the firm represented the buyer and the seller in the sale of a single-tenant NNN Carl’s Jr. in Bakersfield, Calif. The purchase price was $1,569,500 and included both the building and the land. The seller, a family trust based in Newport Beach, Calif., was represented by Patrick G. Kent. The buyer, a private investor of Oakland, Calif., was represented by Jeremy S. McChesney.
Located at 2930 F Street, the single-tenant Carl’s Jr. with a drive-thru is situated on an .69-acre parcel of land. The freestanding 3,200-square-foot building is located at the signalized intersection of 30th Street and F Street.
“The sale continues to show the demand for well-located single-tenant NNN investments in today’s market. The investment featured a recently renovated Carl’s Jr. with a new 10-year lease term at one of the most highly-traveled intersections in the downtown Bakersfield area,” said Patrick G. Kent, senior vice president at Hanley Investment Group. “The cap rate of 5.54% is one of the lowest in the trade area for a net-leased investment.”
About Hanley Investment Group Real Estate Advisors
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. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.