Saturday, May 21, 2011
Brandon Michaels, a vice president investments in the firm’s Encino office, represented the seller, an out-of-state owner.
“The seller came to us because of our expertise and proven ability to create a market for this product type,” says Michaels. “Our platform and marketing process created a substantial amount of activity that produced a unique buyer who was able to pay a significant price.
The Walgreens drugstore is 11 years into a 60-year lease term with the option to cancel in year 20 and at the end of every five years thereafter. Staples is in year 11 of a 15-year lease term with three-five year options to renew. El Pollo Loco is in year 11 of a 20-year ground lease.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716