A Castaic Jack-In-The-Box sold for $2 million recently to an undisclosed investor from Los Altos, according to the real estate firm that handled the deal.
The current tenant, the operator of the Jack-in-the-Box restaurant located within the Hasley Crossroads shopping center at 31769 The Old Road, has seven years left on the original 20-year lease, which has scheduled rent increases and options to extend, according to Avison Young.
“Jack-in-the-Box has been operating at this location since the property was developed in 2007 and has experienced strong consumer demand,” Chris Maling, an Avison Young principal, said in a prepared statement. “This was a prime opportunity for a buyer to own a corporate-guaranteed, cash-flowing, quick-service-restaurant site with no landlord responsibilities in a densely populated area.”
The seller, a limited family partnership from Palm Desert, was also represented by Chris Maling and David Maling of Avison Young.
The 2,590-square-foot property is part of a 1-acre commercial center that includes SCVi Charter School. The school’s property was not involved in the transaction.