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California  + Orange County  + Retail  | 

Joe’s Crab Shack-Occupied Ground Lease Sale Completed Near Disneyland

SRS Real Estate Partners’ National Net Lease Group completed the $3.375-million ground lease sale of a single-tenant property fully occupied by Joe’s Crab Shack. Located at 12011 Harbor Blvd. in Garden Grove, CA, the asset is situated along restaurant row near Disneyland.

SRS’ Patrick Luther and Matthew Mousavi represented the seller as well as the buyer – both of which are SoCal-based private investors. The buyer paid all cash and was not in a 1031 exchange. The closing cap rate was 4.22%.

Mousavi says “This opportunity offered exceptional real estate in the heart of a thriving tourist destination. Additionally, the 4.22% cap rate set a record for the area for restaurants with less than two years remaining on the lease.”

Joe’s Crab Shack has been at the property for more than 10 years, and has roughly two years remaining on its absolute triple-net lease with options to extend.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Lease
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