Costa Mesa Restaurant Lease or Redevelopment Opportunity
At-A-Glance
Sold 2019 / Leased April 2022
Asking Rent: Best Offer
Previous Rent Paid by Wienerschnitzel: $51,600 annually, plus triple nets
Lease BLVD Procured April 2022: $85,000 annually, plus triple nets
Represented: Owner and Tenant
Tenant: EZ Kebab
Location: Costa Mesa, CA
Highlights:
- Sourced opportunity for client in 2019, with a below market rent and short term remaining on the lease
- Closed escrow in a competitive process, with an all cash 10 day deal - Our client paid $1.1M
- Once the tenants lease came due, we put it on market for lease and found a new tenant (EZ Kebab) willing to pay a 65% increase over the previous rent
- Met over 20 tenants at the site within the first 2 weeks of marketing site for lease
- No downtime for owner - The lease was officially signed within 1 month of putting the space on market
Please reach out for more information:
Tom Chichester / tom@BLVDreic.com / 714-318-3955
Nick D'Argenzio / nick@BLVDreic.com / 818-281-7893
Opportunity
Highlights
Rare, infill Orange County lease and/or redevelopment opportunity
Former Wienerschnitzel fast food building
Ideally located along Harbor Boulevard (35,500 VPD), the major north/south thoroughfare leading directly from the 405 Freeway to Newport Beach
Harbor Boulevard is considered one of the busiest routes in Orange County, the thoroughfare passes through some of the most densely populated areas in the region
Affluent/Dense demographics in the trade area - There are over 350,658 people living within a 5-mile radius, with an average household income in excess of $128,805.
