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Paragon Commercial Sells In-N-Out Burger Ground Lease in San Jose for $6.9M

In-N-Out-Burger-San-Jose-CA

Currently under construction, the new In-N-Out Burger in San Jose is slated to open in the first quarter of 2019.

SAN JOSE, CALIF. — Paragon Commercial Group has completed the sale of a ground lease for an In-N-Out Burger located at the corner of Great Oaks Parkway and Cottle Road in San Jose. A private Bay Area buyer acquired the property for $6.9 million.

In 2014, Paragon began work to acquire a former parking lot site and concurrently entered into a ground lease with In-N-Out Burger for a single-tenant restaurant. The property is currently under construction and is expected to open in first-quarter 2019.

Christopher Sheldon of Cushman & Wakefield represented Paragon, while Andy Chana of Sands Investment Group represented the buyer in the deal.

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