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Santa Maria Raising Cane’s Drive-Thru Goes for $5M

Hanley Investment Group Real Estate Advisors arranged the sale of a new-construction, single-tenant Raising Cane’s Chicken Fingers Double Drive-Thru restaurant within Santa Maria’s Enos Ranch mixed-use development for $5.1 million.  

VPs Alexander Moore and Sean Cox, along with EVP Kevin Fryman, represented the seller, College West Partners, L.P. of Tustin, and the buyer, a private investor based in Los Angeles.   

“We closed escrow within 62 days from our listing date while eight other single-tenant Raising Cane’s were on the market in California,” said Moore. “We procured a direct all-cash investor with short due diligence and closing time frames who owned multiple Rasing Cane’s restaurants in California and was not in a 1031 exchange.” 

Cox added, “Single-tenant QSR drive-thrus leased to national corporate tenants continue to experience the highest demand from net lease investors in today’s market.”

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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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