Carson Raising Cane’s Achieves High Pricing for QSR Restaurant

(Updated with additional information)

Beta Agency SVP Adam Friedlander represented the seller of a Raising Cane’s Restaurant located in Carson. The sale price was $7,525,000. The undisclosed buyer was a private California investor in a 1031 exchange.

Friedlander said, “The sale of the Raising Cane’s in Carson represents the highest-priced sale of a fast-food restaurant in California to trade this year. In addition, this is only one of three Raising Cane’s leased investments to trade in California in 2024. Selling a high-rent NNN investment at a low cap rate is a difficult task given existing market conditions. We are very pleased with the results.”

CBRE’s senior associate George Felix and EVP Dan Blackwell represented the buyer, a repeat client based in Orange County, who was completing a 1031 exchange. Blackwell said, “This is the second property acquisition we’ve facilitated for this repeat client in 2024. Earlier this year, we assisted the buyer in acquiring La Pat Courtyard Apartments, a 30-unit turnkey multifamily property in Westminster, California, for $10 million.”

Built in 2022, the 2,950-square-foot restaurant is occupied in a 12-year, triple-net lease. Located directly across from the 1.1-million-square-foot South Bay Pavilion Mall, the property benefits from a dense surrounding demographic and significant vehicular traffic, according to Beta Agency.