Prices for OC Single-Tenant Retail Hits New Record

A Jack-in-the-Box in Mission Viejo trades hands for $1,374 per square foot, the highest price in Southern California in the last 12 months.

A Jack-in-the-Box property in Mission Viejo has traded hands for $1,374 per square foot, the highest price for a Jack-in-the-Box-occupied single-tenant retail property in the last 12 months.

The 2,759-square-foot property traded hands for $3.79 million. The sale had a closing cap rate of 4.5%.

SRS’ national net lease group managing principals Patrick Luther and Matthew Mousavi and SVP Terrison Quinn represented the seller, Pacific Castle. Arthur Flores of CBRE represented the buyer.

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