Hanley Investment Group Real Estate Advisors arranged the sale of a new-construction, single-tenant property occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant in Imperial Beach, . The sale price in this off-market transaction was $5.7 million. 

EVPs Bill Asher and Jeff Lefko represented the developer and seller, Palm Avenue 111 Partners, LLC of Encinitas. The buyer, a family trust based in Northern California, was represented by Scott Ketchum in Newport Beach.

“We procured an all-cash California-based 1031 exchange buyer specifically seeking an absolute triple-net quick serve drive-thru investment in California,” said Asher. “We secured the buyer within their 1031 exchange identification period, opened escrow shortly after Raising Cane’s opened for business and closed the transaction in 40 days.”  

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