November 30, 2016
Santa Monica-based Sands Investment Group completed the sale of a Panera Bread bakery and cafe in Murrieta, CA for $4.1 million. The buyer was an undisclosed private investor, while the seller was a regional merchant developer.
The restaurant, which was built this year and includes a drive-thru, occupies the 4,600-square-foot property under a 15-year lease. The out-parcel site is within a Lowe’s and Kohl’s retail center on Madison Ave., along the I-15 freeway.
The deal closed at a 4.6% capitalization rate, a record for retail properties in Murrieta.
Sands Investment Group represented both parties in the transaction.
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