SRS Real Estate Partners has arranged the $7.9-million ground lease sale of a newly developed Chick-fil-A property located at 1200 E Alta Vista St. in Placentia. Situated on two acres and fronting Rose Drive, the 5,525-square-foot, double lane drive-thru property recently opened its doors and signed a new 15-year, corporate-guaranteed, absolute triple-net lease.
Senior managing principals Patrick Luther and Matthew Mousavi and VP Winston Guest represented the seller, a Southern California-based developer. The buyer was a private investor from Southern California.
“This deal represents the highest-priced quick-service restaurant (QSR) sale in Orange County over the past two years and is the only QSR/fast-food sale during that period to exceed a $6-million price point,” said Guest…