CBRE Closes Single-Tenant Sales in Manhattan Beach, Oxnard

CBRE has arranged the sales of two single-tenant retail properties in Manhattan Beach and Oxnard, leased to El Pollo Loco and McDonald’s, respectively, in two separate transactions totaling nearly $10 million. The firm’s Alex Kozakov, Patrick Wade, Matthew Greenberg, Jack Webber and Bo Henderson represented the sellers in both transactions, as well as the buyer for the Manhattan Beach property. The transactions closed at cap rates of 3.59% and 3.51%.

The property at 800 N. Sepulveda Blvd. in Manhattan Beach, leased to El Pollo Loco, sold for $5.1 million from local private investors to 800 Manhattan, LLC. El Pollo Loco has operated at this location for over 40 years.

The property at 110 Riverpark Blvd. in Oxnard, leased to McDonald’s, was purchased by a private family trust from another private family trust for $4.65 million. The one-acre lot includes a double drive-thru and 27 parking spaces.

“Despite macroeconomic challenges, we continue to see robust demand for premier single-tenant net lease locations,” said Henderson. “Both sales, conducted on an all-cash basis, reflect the strength and resilience of best-in-class assets that can enhance net income and provide a hedge against inflation.”