$3.3 million sale of absolute triple-net-leased retail asset in Bay Area closes

SAN FRANCISCO, Nov. 15, 2023 – JLL Capital Markets announced today that it has closed the $3.3 million sale of a 2,626-square-foot, single-tenant retail building that is triple-net-leased to El Pollo Loco. The property is located at 910 Andersen in San Rafael, California within the Bay Area.

Founded in 1975, El Pollo Loco is a fast-casual restaurant chain that currently operates 490 restaurants across California, Colorado, Nevada, Arizona, Texas, Utah and Louisiana. The location at 910 Andersen Dr. is corporate guaranteed and currently has 13 years of lease term remaining with options for extension.

The property includes a rare Marin County drive-thru and offers proximity to Highway 101, which features 163,000 vehicles per day and provides connectivity from an abundance of surrounding retail within the submarket. Additionally, the property benefits from an affluent and robust customer base with a population of over 150,000 and an average household income of approximately $200,000 within a five-mile radius.

The JLL Retail Capital Markets team was led by Managing Director Eric Kathrein and Director Warren McClean.

 “We are still seeing tremendous interest for high-quality STNL assets like 910 Andersen despite current challenges caused by rising interest rates,” said McClean.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.