The Hasley Canyon Jack-in-the-Box property sold to an undisclosed investor from Los Altos Hills for $2 million, according to the commercial real-estate firm that handled both ends of the deal.
Avison Young, a Canadian firm with offices in Los Angeles, said the current tenant – the operator of the Jack-in-the-Box restaurant – has 7 years left on the original 20-year lease with scheduled rent increases and options to extend.
“Jack-in-the-Box has been operating at this location since the property was developed in 2007 and has experienced strong consumer demand,” Chris Maling, an Avison Young principal, said in a statement. “This was a prime opportunity for a buyer to own a corporate-guaranteed, cash-flowing, quick-service-restaurant site with no landlord responsibilities in a densely populated area.”
Chris Maling and David Maling of the company’s downtown Los Angeles office also represented the seller, a limited family partnership from Palm Desert.
The 2,590-square-foot restaurant property is located in the Hasley Crossroads shopping center at 31769 The Old Road, on a 1-acre parcel that includes SCVi Charter School.