SRS Arranges $6.6M Ground Lease Sale of Restaurant Asset in Garden Grove, California
GARDEN GROVE, CALIF. — SRS Real Estate Partners has arranged the ground lease sale of a single-tenant restaurant property, located 12001 Harbor Blvd. in Garden Grove, 1.2 miles south of Disneyland. A Southern California-based partnership sold the asset to a private investor for $6.6 million, or $1,072 per square foot.
Outback Steakhouse occupies the 6,180-square-foot property on an absolute triple-net lease basis that was recently extended for an additional 20 years.
Patrick Luther and Matthew Mousavi of SRS’ National Net Lease Group represented the seller, while Tom Carosella of Carosella Properties represented the buyer in the transaction.