Oxnard, CA - An El Pollo Loco restaurant property in Oxnard, CA has been acquired by West Los Angeles investors for $1.9 million and is being leased back to the restaurant operators, announces Westcord Commercial Real Estate Services.
Joe Lopez, a retail and automotive property specialist for Westlake Village, CA based Westcord, reports that The Klein Family Trust acquired the 3100 sq. ft. facility situated on one acre of land at 3750 W. 5th St. in the Rancho Victoria Plaza retail center. Lopez represented both the buyers and Mi Pollo, Inc., the seller and lessee.
Lopez, who negotiated the original build-to-suit project in behalf of Mi Pollo, Inc., said the company has been operating the El Pollo Loco restaurant at the Oxnard site since 1998. The new lease term is 20 years.
The Klein Family Trust has recently diversified into commercial properties after building a substantial multi-family residential portfolio, said Lopez, who has handled transactions involving over a dozen El Pollo Loco restaurants in this area.
Westcord is one of the Los Angeles area¹s top 25 commercial real estate companies with offices in Westlake Village, CA, and Van Nuys, CA.
|
