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January 30, 2019 Comments Off on Rare Bay Area In-N-Out Ground Lease Sold by Paragon Views: 3268 Bay Area, California News

Rare Bay Area In-N-Out Ground Lease Sold by Paragon

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Paragon Commercial Group, LLC sold a rare In-N-Out Burger ground lease in San Jose to a private Bay Area buyer for $6.9 million. The restaurant is currently under construction and is expected to open in Q1 2019.

Paragon’s Jim Dillavou says, “we worked collaboratively with one of California’s most iconic retail brands, In-N-Out Burger, to enable the opening of a new location in this very high barrier to entry market.”

Paragon began work to acquire the former parking lot site from a Lowe’s Home Improvement in 2014, and concurrently entered into a ground lease with In-N-Out Burger for a single-tenant restaurant. The site is located in a prime arterial of Silicon Valley, south of the 101 Freeway on the corner of Great Oaks Parkway and Cottle Road, between big box retailers Target and Lowe’s.

Sands Investment Group’s Andy Chana represented the undisclosed buyer. Cushman & Wakefield’s Christopher Sheldon represented Paragon.

Connect With Paragon Commercial Group’s Dillavou

Connect With Sands Investment Group’s Chana

Connect With Cushman & Wakefield’s Sheldon

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