Charles Dunn Co. Negotiates $5.5M Acquisition of Del Taco-Occupied Property in San Pedro, California

SAN PEDRO, CALIF. — Charles Dunn Co. has arranged the acquisition of a newly developed, single-tenant restaurant property located at 359 S. Gaffey St. in San Pedro. A joint venture between Rich Development Enterprises and Paragon Commercial Group sold the property to a Los Angeles-based private investor for $5.5 million in a 1031 exchange.

Del Taco occupies 2,420-square-foot property under a newly signed, 20-year, corporate-guaranteed, triple-net lease.

Kyle Gulock of Charles Dunn CO. represented the buyer, while Highland Partners Corp. represented the seller in the deal.