JLL Capital Markets has closed the $3.3-million sale of 910 Andersen Dr. in San Rafael, a 2,626-square-foot, single-tenant retail building that is triple-net-leased to fast-casual restaurant chain El Pollo Loco. The JLL Retail Capital Markets team was led by managing director Eric Kathrein and director Warren McClean. Buyer and seller weren’t disclosed.
The property includes a rare Marin County drive-thru and offers proximity to Highway 101, which features 163,000 vehicles per day and provides connectivity from an abundance of surrounding retail within the submarket. The location at 910 Andersen Dr. is corporate guaranteed and currently has 13 years of lease term remaining with options for extension. In addition, the restaurant property benefits from an affluent and robust customer base, according to JLL.
“We are still seeing tremendous interest for high-quality STNL assets like 910 Andersen despite current challenges caused by rising interest rates,” said McClean.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).