Drive-Thru Retail, Office Continue to be Highly Sought After in Urban Infill Markets

A 14,203-square-foot office property at 7355 Greenleaf Ave. in Whittier recently sold for $4.2 million. The purchase of the drive-thru corner location at Greenleaf Ave. and Mar Vista St. by a private investor includes a five-year leaseback to the bank.

Kennedy Wilson Brokerage’s Ed Sachse, Lee Shapiro and Gary Goodgame completed the sale on behalf of the seller, Banc of California National Association.

“Drive-thru retail and office product continues to be highly sought after in urban infill markets,” said Goodgame. “With a second-floor vacancy and five-year leaseback by the bank for the ground floor, this property generated multiple cash offers and closed within two weeks of going under contract.”

Situated on a 0.63-acre lot in Whittier’s historic uptown district, the property serves as Banc of California’s flagship location in the submarket. It features abundant ground-floor parking, signage and branding visibility, and a wraparound balcony. The office property is located within a Federally Qualified Opportunity Zone.

The buyer plans to operate the asset as a leased investment.