Just Closed: Carl’s Jr. | North Hollywood, CA
Fortune Favors The Bold | Grow Your Legacy
Agents: Raymond A. Rodriguez | Mathew Freedman
Team: Lucrum Real Estate Group
- Represented Buyer – A Lucrum Legacy Partner
- Closed 98% of list price
- New 20 year NNN lease with (2) 5-year options to extend
- 10% rent increase every 5-years
- Experienced franchisee with 450 locations
Congratulations to our valued client on completing his 1031 Exchange and acquiring this single tenant triple net Carl’s Jr. located at 6202 Laurel Canyon Blvd. North Hollywood, CA.
The Seller, a national franchisee with over 450 locations throughout the United States had struggled to identify a Buyer that could perform by his preferred sales process and terms. The Buyer desired to exchange into an investment opportunity that would provide stable cash-flow with minimal to no management responsibilities.
The Buyer is a Lucrum Legacy Partner whom we have represented on multiple transactions. On this most recent collaboration, we are grateful to have assisted him with completing his 1031 Exchange. This included the sale of his downleg, an apartment building in Los Angeles and the acquisition of this upleg, property along with another single tenant NNN property leased to a Rent-A-Wheel that we just closed escrow on 2 weeks ago.
Our team was able to identify this opportunity prior to the closing of the Buyers downleg, work diligently with the Sellers representatives, complete all due diligence up-front and submit a non-contingent offer on behalf of our client to secure the property for him.
In addition, our team was able to pre-negotiate and structure a sale lease-back with the Seller that included the signing of a new 20 year, NNN lease.
With professional & friendly collaboration, clear communication, full transparency & the experience required for a transaction such as this, we are happy to share that escrow closed smoothly!
We love helping our clients accomplish their goals and improve their lives. Contact us and be a part of our next real estate success story!!!