A new-construction, single-tenant Raising Cane's Chicken Fingers quick-service restaurant in Anaheim has traded hands for a 4% cap rate. The cap rate is a new lowest record for the quick-service chain in the US.

Hanley Investment Group's EVPs Bill Asher and Jeremy McChesney, represented the buyer, a private investor from Los Angeles, California. SRS Real Estate Partners' National Net Lease Group's Managing Principal Patrick Luther and Matthew Mousavi, managing principal and co-founder of the SRS National Net Lease Group, represented the seller, Calbay Development LLC.

The property is a freestanding 3,233-square-foot building, and opened on August 27, 2019. It traded hands for $5 million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Orange County
Net Lease
Retail
Capital Markets
Development