Commercial Property in Yucaipa Sells for $8 Million

By on January 22, 2020
In-N-Out Submits Plans

Hanley Investment Group has completed the sale of a two-tenant retail site in Yucaipa. The two freestanding buildings were acquired for $8 million, representing a cap rate of 4.11% and $956 per square foot.

The 2.21 acres off Interstate 10 at the Yucaipa Boulevard exit has been home to In-N-Out and Corky’s Kitchen & Bakery since 2016. Both restaurants have long-term leases and options for renewal.

According to Hanley Investment Group, the property was on the market for a short time. After only a couple weeks the buyer in the all-cash deal was found.

Hanley ’s Bill Asher, Ed Hanley and Jeff Lefko, represented the seller, VantageOne Real Estate Investments, LLC of Newport Beach, CA in the transaction. The buyer, a private investor from Los Angeles, was represented by Edward Weng of TFS Properties in San Marino, CA.