Fast-food building sold for record price
A building in Temecula occupied by Raising Cane’s Chicken Fingers has sold for $6.8 million.
That is the most ever paid for a property leased by the Baton Rouge, La. -based chain – $1,728 per square foot – according to a statement released by SRS Real Estate Partners’ National Net Lease Group.
Built last year, the 3,935-square-foot sits on 1.8 acres. It is in a shopping center anchored by Lowe’s Home Improvement at the corner of Winchester Road and Margarita Road, one of the busiest intersections in the Inland Empire.
SRS National Net Lease Group represented the seller, Newport Beach-based Costanzo Investments, LLC.
The buyer, a family trust whose name was not released, was represented by Steven Schechter of Marcus & Millichap, according to the statement.