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| Jack in the Box Restaurant, 5400 Sepulveda Boulevard, Culver City, CA |
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| Ashley Saye |
LOS ANGELES, CA – Charles
Dunn Company, one of the largest full-service regional real estate firms in the
western United States, has completed the $2,125,000 all-cash sale of a
single-tenant, 9,309-square-foot retail property occupied by Jack in the Box in Culver City, Calif.
Located at 5400 Sepulveda
Blvd., Jack in the Box has been a tenant since the property was built in 1963
and was one of the first Jack in the Box restaurants to open in California.
Justin Mendelson and Ashley Saye of Charles
Dunn Company represented the seller, a partnership of two family trusts and two
charitable organizations. Jack in the Box, Inc. a Delaware Corporation,
exercised its right of first refusal after Charles Dunn sourced the original
buyer. The close of escrow occurred in just ten days.
“This is the first time the property has been
available for purchase since 1963,” said Mendelson.
“Jack in the Box exercised
its right of first refusal to acquire this asset at near the original asking
price. Jack in the Box does not typically elect to purchase a store unless the
location is irreplaceable and the sales are extremely strong, which was likely
the case for this particular restaurant.”
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| Justin Mendelson |
“Ideally situated at the hard corner, signalized intersection of Sawtelle and Sepulveda Boulevards, this free-standing property is within one of the most highly coveted locations for retail investment in all of Los Angeles,” noted Saye.
“It is in the heart of a
busy retail corridor and is within a submarket of Los Angeles that has
experienced new development over recent years.”
Charles Dunn Company has
been active in sales within the single-tenant net lease sector throughout Los
Angeles and recently completed the sale of another well-located national quick
service restaurant property nearby.
For a complete copy of the company’s news
release, please contact:
Darcie Giacchetto
949.278.6224
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