JLL Capital Markets recently finalized the sale of 910 Andersen Dr. in San Rafael for $3.3 million. The property, a 2,626-square-foot single-tenant retail building leased to fast-casual restaurant chain El Pollo Loco on a triple-net basis, was sold by an undisclosed seller and purchased by an undisclosed buyer.
The JLL Retail Capital Markets team, led by Managing Director Eric Kathrein and Director Warren McClean, facilitated the transaction. This rare Marin County drive-thru location offers excellent connectivity to Highway 101 with its high daily traffic volume of over 163,000 vehicles and is surrounded by numerous retail options within the submarket.
Corporate guaranteed with a remaining lease term of 13 years plus extension options, this prime restaurant property boasts a strong customer base from affluent demographics as noted by JLL experts.
Despite challenges posed by increasing interest rates at present times,”high-quality STNL assets like”910 Andersen continue to attract significant attention,” stated McClean confidently.
