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California  + Net Lease  | 

Chick-fil-A Sale Represents Pricing Record for Orange County QSRs

SRS Real Estate Partners has arranged the $7.9-million ground lease sale of a newly developed Chick-fil-A property located at 1200 E Alta Vista St. in Placentia. Situated on two acres and fronting Rose Drive, the 5,525-square-foot, double lane drive-thru property recently opened its doors and signed a new 15-year, corporate-guaranteed, absolute triple-net lease.

Senior managing principals Patrick Luther and Matthew Mousavi and VP Winston Guest represented the seller, a Southern California-based developer. The buyer was a private investor from Southern California.

“This deal represents the highest-priced quick-service restaurant (QSR) sale in Orange County over the past two years and is the only QSR/fast-food sale during that period to exceed a $6-million price point,” said Guest.

This deal also marks the third-highest QSR sale in California over the past 12 months, according to SRS. Over the past two years in California, only four QSR properties have sold for $7.5 million and above.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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