January 24, 2019
A brand-new, single-tenant Jack in the Box in Fontana, CA has traded hands for $2.4 million. The seller and developer of the property was Woodland Hills, CA-based Adler Realty Investments, Inc. The buyer was an undisclosed private Los Angeles investor.
The freestanding QSR is situated on 0.54 acres at 17020 S. Highland Ave., at the entrance of the new Highland Village shopping center. Adler Realty Investments recently completed the development, which is anchored by Sprouts Farmers Market.
Marcus & Millichap’s Edwin Mariscal represented the buyer. Hanley Investment Group Real Estate Advisors’ Kevin Fryman, Bill Asher, along with Jeff Lefko, represented the seller.
“We generated multiple competitive offers within two weeks of marketing the property,” said Fryman. “We procured an all-cash, 1031 exchange buyer based in Southern California that closed at 100% of the list price.”
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