SRS Real Estate Partners Arranges $3.8M Sale of Restaurant Building in Southern California
MISSION VIEJO, CALIF. — SRS Real Estate Partners’ National Net Lease Group has completed the sale of a single-tenant retail property located at 28651 Marguerite Parkway in Mission Viejo. Irvine, Calif.-based Pacific Castle sold the asset to a Hawaii-based investor for $3.8 million, or $1,374 per square foot.
Patrick Luther, Matthew Mousavi and Terrison Quinn of SRS’ National Net Lease Group represented the seller, while Arthur Flores of CBRE represented the buyer in the deal.
Built in 1979, the 2,759-square-foot property is scheduled to be renovated in the near future. Jack in the Box occupies the building and recently signed a lease extension for 15 years and has been a tenant at the location for more than 35 years.