MURRIETA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6.9 million sale of two single-tenant retail pads at the intersection of California Oaks Road and Jackson Avenue in Murrieta. A private developer based in Orange County, Calif., sold the properties to a private 1031 exchange investor based in California’s Central Valley. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, while Brendan Tyoran and Jake Linsky of Matthews Real Estate Investment Services represented the buyer in the deal.
The two-tenant property features two separate, stand-alone pads on a 1.78-acre parcel. Built in 2022, Quick Quack Car Wash occupies the 4,126-square-foot property at 40640 California Oaks Road on a 20-year absolute triple-net ground lease with approximately 17 years remaining, including 12 percent rental increases every five years and multiple renewal options.
Popeyes, which closed on a lease prior to the sale, will begin construction on a 1,983-square-foot restaurant at 40642 California Oaks Road. The tenant signed a 20-year, absolute triple-net ground lease with 10 percent rental increases every five years.