Oxnard, CA
-- An El Pollo Loco restaurant in Oxnard, CA has been acquired in a
sale/leaseback transaction valued at $886,000 by San Francisco area investors who plan
to develop an additional 3000 sq. ft. of retail space at the site, announces
Westcord Commercial Real Estate Services.
Joe Lopez, president of Van
Nuys, CA-based Westcord, reports that Harold and Mariam Shain, in a 1031 exchange
transaction, purchased the 2400 sq. ft. restaurant on just under one acre of land at 3155
Saviers Rd., Oxnard. Pollo West, Inc. of Agoura, operators of six successful El
Pollo Loco restaurants in Ventura County, was the seller. Pollo West will continue
operating the restaurant under the terms of a new lease.
Lopez represented both
buyer and seller and is working with the new owners to develop the property.
Westcord is one of the Los
Angeles area's top 25 commercial real estate companies with offices in Westlake Village,
CA, Van Nuys, CA, and Lancaster, CA. Another office will open soon in Valencia, CA.
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