LAKE ELSINORE — Hanley Investment Group Real Estate Advisors announced the $2,925,000 sale of a newly constructed, single-tenant Pollo Campero ground lease in Lake Elsinore. The closing cap rate marks the lowest recorded nationwide for the brand in nearly four years.
Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller and developer, Evergreen Devco. The buyer, a private investor based in San Bernardino County, was represented by Greg Bedell and Lance Mordachini of Progressive Real Estate Partners.
According to Asher, the firm generated multiple offers and secured an all-cash 1031 exchange buyer. The property sold before the anchor tenant, Stater Bros., began construction, highlighting the strength of the location.
The 3,000-square-foot building sits on 1.10 acre
