Hanley Investment Group has facilitated the acquisition of a newbuild property occupied by sole tenant the Chipotle Mexican Grill in Torrance, California.
A sale to a private Los Angeles-based investor was agreed for US $5.89 million in negotiations involving Hanley Investment Group EVPs Bill Asher and Jeff Lefko, and Vice President Sean Cox as representatives of the buyer, and Christopher Huddleston of The Sher Group in LA representing the seller.
“We successfully facilitated a year-end purchase while structuring a mutually beneficial closing for both parties prior to Chipotle opening for business and paying rent,” explains Asher observing the transaction was completed in 30 days from initial letter of intent to closing escrow.
The new 3,570-square-foot Chipotle is located on a 0.37-acre parcel at 1019 West Carson Street in Torrance, directly across the street from Harbor-UCLA Medical Center’s 72-acre campus, which is undergoing a significant expansion and modernization project.
This US $1.7 billion investment led by Los Angeles County Public Works aims to replace the existing hospital and consolidate outpatient services into new, state-of-the-art facilities.
This is a coveted investment-grade, single-tenant Chipotle Mexican Grill with a new 15-year triple-net corporate guaranteed lease, located at the shared, signalized hard corner of the main hospital entrance in a high-traffic corridor alongside In-N-Out, Chick-fil-A, and Starbucks,
The medical center will remain open during construction, which is expected to be completed in 2027.
Chipotle is a highly sought-after brand in the fast-food industry, known for its high-quality ingredients and commitment to sustainability.
This reputation attracts a loyal customer base, ensuring long-term consistent foot traffic and sales.”
