Single-Tenant Jack in the Box Drive-Thru Sells in Alameda, Calif., for $4 Million

ALAMEDA, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, and Colliers, a leading diversified professional services and investment management company, announced today the sale of a corporate single-tenant property occupied by Jack in the Box Drive-Thru in Alameda, California. The purchase price was $4 million.

Hanley Investment Group's Executive Vice Presidents Bill Asher, Jeremy McChesney, and Jeff Lefko, along with Colliers Senior Vice President Cherie Huillade, represented the seller, CalBay Development, a property developer focused on buying and developing net-leased properties and based in El Segundo, California. The buyer, a private investor from Thousand Oaks, California, was represented by Jake Kim from Pinnacle Estate Properties, Inc. in Westlake Village, California.

"We generated multiple qualified offers for a shorter-term lease in a high-barrier-to-entry location and secured a buyer who was seeking a well-located single-tenant investment leased to a corporate tenant," said Asher. "The buyer, who owns a portfolio of similar single-tenant investments, including other Jack in the Box locations, found their 32+ year operating history, and recent lease extension particularly appealing."

Asher added, "We negotiated a timely 21-day due diligence period and a 30-day escrow, achieving maximum pricing in today's market for a single-tenant quick-service restaurant (QSR) drive-thru property with fewer than five years remaining on the lease."

The 2,583-square-foot drive-thru, originally renovated in 1991, sits on a 0.43-acre parcel at 1257 Park Street, at the signalized intersection of Park Street and Encinal Avenue/Highway 61 in the heart of historic Downtown Alameda, a destination shopping district known for boutique shops and gourmet restaurants. The intersection experiences more than 35,000 cars per day.

"This location is truly irreplaceable in the dense and affluent East Bay market," said Huillade. "It's four miles from Downtown Oakland, 16 miles from San Francisco, and 40 miles from Downtown San Jose, making it highly desirable for both residents and businesses."

Asher noted that the Jack in the Box at this location ranked in the top 20% of all Jack in the Box locations nationwide, according to Placer.ai. Nearly 453,000 people reside within a five-mile radius, with an average household income exceeding $146,000 within a one-mile radius.

The property is located near Oakland International Airport, which saw more than 11 million passengers in 2023. The airport is the third largest in the San Francisco Bay Area, following San Francisco International Airport (SFO) and San Jose International Airport (SJC).

Jack in the Box is one of the nation's largest fast-food chains, offering a variety of burgers, sandwiches, tacos, and other popular menu items. Since its founding in 1951, the company has introduced several innovations that have become industry standards, including the drive-thru, breakfast sandwiches, and portable salads.

Jack in the Box Inc. (NASDAQ: JACK) operates more than 2,200 Jack in the Box restaurants across 22 states and over 600 Del Taco restaurants across 16 states. In fiscal year 2023, the company opened 20 new Jack in the Box locations and, since launching its development program in 2021, has signed agreements for 389 new restaurants, with 38 already opened. Jack in the Box Inc. generated $1.69 billion in revenue in 2023, up from $1.47 billion the previous year.

"Investors continue to pursue corporate-backed absolute triple-net leases in prime locations, particularly, with QSR drive-thru tenants like Jack in the Box," noted Asher. "These assets offer highly reliable, long-term income streams with minimal landlord responsibilities, making them a highly sought-after option for investors looking for stable, hassle-free investments."

About Hanley Investment Group Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com [http://www.hanleyinvestment.com/].

About Calbay DevelopmentCalbay Development, LLC is a privately held real estate development firm based in El Segundo, CA, and founded with a mission to buy premium commercial properties in California and develop first-class retail and restaurant projects with staying power. The cofounders' collective shopping center industry experience spans 50+ years in investment and development of commercial sites, and their collective acquisitions in California alone total +/ 400,000 square feet across +/- 45 projects, circa $260 million in project capitalization. For more information visit: www.CalbayCorp.com [http://www.calbaycorp.com/].

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Bill Asher, Executive Vice President
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=singletenant-jack-in-the-box-drivethru-sells-in-alameda-calif-for-4-million]
Phone: 949.585.7684
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/



This release was published on openPR.