California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Inland Empire  + Retail  | 
Perris KFC Sells for Record-Low Cap Rate

Perris KFC Sells for Record-Low Cap Rate

Hanley Investment Group and Progressive Real Estate Partners have completed the sale of a brand new, single-tenant, net-leased investment occupied by Kentucky Fried Chicken (KFC) in Perris, CA. The sale price was just under $4 million, representing a cap rate of 3.65%, a record low for a KFC in the Inland Empire according to Progressive Real Estate Partners.

“We procured an all-cash 1031 exchange buyer that closed at 100% of the listed price shortly after KFC opened for business,” said Hanley Investment Group’s Bill Asher. “The building is KFC’s new ‘Next Generation Prototype’ that prioritizes a digital-forward and contactless customer experience and includes a drive-thru and indoor and outdoor seating.”

The 2,200-square-foot KFC is situated on 1 acre on North Perris Boulevard in a Cardenas Markets-anchored shopping center. Known as an industrial hub, Perris has more than 46 million square feet of existing distribution centers with 13 million more either planned or under construction.

Connect

Inside The Story

Hanley Investment Group

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
Chase-08-cube
New call-to-action
Chase-08-cube