IE Business Daily Business news for the Inland Empire.
A retail property in Barstow occupied by Raising Cane’s Chicken Fingers has sold for $5.5 million.
The transaction includes the 1.2-acre site at 2620 Fisher Blvd. where the fast-food restaurant is located and its 15-year lease, according to SRS Real Estate Partners.
SRS represented the seller, Starboard Realty Advisors. Newmark Group Inc. represented the buyer, a private investor in Los Angeles whose name was not disclosed.
The purchase price is reportedly the most ever paid in Barstow for a single-tenant fast-food building.
“Barstow is a famous stop for travelers along the 15 freeway and this store has already experienced overwhelming success, said Matthew Mousavi, managing principal with SRS and a member or the negotiating team. “Additionally, given the increased traffic locally from travelers going to and from Las Vegas and Southern California, this site benefits from its visibility and frontage along Interstate 15.”
Retailers near the restaurant include The Home Depot, Tractor Supply Co., McDonald’s, and Starbucks. It’s also less than one mile from the Outlets at Barstow.
