New construction Chase Bank in Orange County sells for $5.1 million
ANAHEIM, Calif. — Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm has arranged the purchase of a newly constructed, single-tenant Chase Bank in Anaheim, California, located five minutes from Disneyland. The purchase price was $5.1 million for the absolute triple-net ground lease.
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Hanley Investment Group’s Executive Vice Presidents Bill Asher and Jeff Lefko represented the buyer, a private investor based in Los Angeles. The property was developed by SunCoast Properties, Inc. The seller was represented by SRS Real Estate Partners Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter located in the firm’s Newport Beach, California office.
The new 3,988-square-foot bank building, which opened earlier this year, sits on 0.50 acres and is located at 545 N. Euclid Street in Anaheim, at a shared signalized intersection with Anaheim Plaza with excellent visibility and multiple points of ingress/egress.
Hanley Investment Group Real Estate Advisors announced today that the firm has arranged the $5.1 million purchase of a newly constructed, single-tenant Chase Bank in Anaheim, California. Monaghan Communications Inc. Photo
Roberto Brutocao, CEO of SunCoast Properties, commented, “We want to recognize and thank Bill and his team. They did a remarkable job steering this transaction to a successful conclusion despite the widespread upheaval in the economy caused by the COVID-19 health emergency.”
The Chase Bank is a new prototype building with a drive-thru ATM. Chase Bank relocated across the parking lot from an older format building at the corner of Euclid Street and Crescent Avenue. The site is directly across from Anaheim Plaza, which includes national and regional tenants Walmart, Smart & Final, El Super grocery store, T.J.Maxx, Ross Dress For Less, Old Navy, Party City, Petco, ULTA Beauty, Five Below, AAA Auto Club, Bank of America, Citibank, Supercuts, Verizon, Rubio’s Fresh Mexican Grill, and others.
This Chase Bank is situated just two miles northwest of Disneyland Park and Resort, one of the most recognizable tourist destinations in the world, most recently reporting approximately 18.3 million visitors in 2018. The property is within close proximity (under six miles) to a number of other tourist hotspots including Knott’s Berry Farm (6+ million annual visitors), the Honda Center (which includes National Hockey League’s Anaheim Ducks), and Angel Stadium (which includes Major League Baseball’s Los Angeles Angels), further increasing consumer draw. The five-mile trade area is supported by an extremely dense population of more than 700,000 residents and 377,000 employees with an average household income of $87,000.
According to Asher, “The purchase represented a unique opportunity to acquire a strategic Chase Bank relocation branch in an established, infill trade area with extremely high barriers to entry. The new long-term lease showed a continued commitment from Chase to the location and will provide the buyer with a secure and stable long-term investment for the future.”
Last month, Hanley Investment Group arranged the sale of a similar single-tenant Chase Bank ground lease in the Houston metro area at record pricing.
About SunCoast Properties
SunCoast Properties, Inc., is a California based real estate investment and management company specializing in private equity placement. SunCoast acquires real estate investments and manages them through successful outcomes for a network of sophisticated investors seeking attractive ongoing cash flow. For more information, visit www.SunCoastManagement.com.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $6+ billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.
Submitted by Monaghan Communications Inc.
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For more information, contact Bill Tyler at Century 21 Full Realty Service.
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Trevor Montgomery, 48, moved in 2017 to the Intermountain area of Shasta County from Riverside County and runs Riverside County News Source and Shasta County News Source. Additionally, he writes or has written for several other news organizations; including Riverside County based newspapers, Valley News, (the now defunct) Valley Chronicle, Anza Valley Outlook, and Hemet & San Jacinto Chronicle; as well as Bonsall/Fallbrook Village News in San Diego County and Mountain Echo in Shasta County.
Trevor spent 10 years in the U.S. Army as an Orthopedic Specialist before joining the Riverside County Sheriff’s Department in 1998. He was medically retired after losing his leg, breaking his back, and suffering both spinal cord and brain injuries in an off-duty accident. (Click here to see segment of Discovery Channel documentary of Trevor’s accident.)
During his time with the sheriff’s department, Trevor worked at several different stations; including Robert Presley Detention Center, Southwest Station in Temecula, Hemet/Valle Vista Station, Ben Clark Public Safety Training Center, and Lake Elsinore Station; along with other locations.
Trevor’s assignments included Corrections, Patrol, DUI Enforcement, Boat and Personal Water-Craft based Lake Patrol, Off-Road Vehicle Enforcement, Problem Oriented Policing Team, and Personnel/Background Investigations. He finished his career while working as a Sex Crimes and Child Abuse Investigator and was a court-designated expert in child abuse and child sex-related crimes.
Trevor has been married for more than 29 years and was a foster parent to more than 60 children over 13 years. He is now an adoptive parent and his “fluid family” includes 13 children and 16 grandchildren.
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