A 28-unit townhome community in Buena Park sold Dec. 30 for $9.8 million or $350,000 unit.
The Knott Townhouses at 7051 9th St. got 11 offers when it listed, according to the Matthews brokerage, which represented the seller.
Built in 1972, the multifamily property features garden-style, townhome apartments in four buildings on 0.41 acres. The buildings include a mix of 20 two-bedroom units and eight three-bedroom townhomes, plus garage spaces, assigned parking, gated access and on-site amenities.
Matthews’ reps said their client was a repeat customer that needed to sell the property after “a partnership separation.”
The buyer, the brokerage said, plans to renovate the property in order to enhance “long-term cash flow.”
Chick-fil-A sells for record in Placentia
A newly developed Chick-fil-A in Placentia recently traded hands for $7.9 million, according to SRS Real Estate Partners.
The property 1200 E Alta Vista St. sits on 2 acres, fronting Rose Drive. The 5,525-square-foot, double lane drive-through property opened its doors recently with the franchise signing a 15-year triple-net lease.
SRS Capital Markets represented the seller, identifying them only as a Southern California-based developer. The buyer also was only identified as a local private investor.
“This deal represents the highest-priced quick-service restaurant sale in Orange County over the past two years and is the only QSR/fast-food sale during that period to exceed a $6 million price point,” said SRS Vice President Winston Guest.
Santa Ana firm buys industrial property in Temecula
MCA Realty in Santa Ana recently acquired a 224,700-square-foot, multi-tenant industrial building in Temecula for undisclosed terms.
The firm also got an an additional 5.54 acres of land at 41995 Zevo Drive in the transaction.
MCA Realty said it will rebrand the property while also making “significant” exterior and interior improvements. It also will look into how to “maximize the value of the excess land.”
“We acquired this project for its attractive going-in yield, excess land and significant upside,” said Tyler Mattox, principal at MCA Realty. “Furthermore, Temecula has emerged as a dynamic and rapidly growing submarket within Southern California, attracting a diverse mix of industries ranging from advanced manufacturing to logistics and distribution due to its strategic location along key transportation corridors.”
Built in 1998, the complex is near the 215 and 15 freeways.
Cushman and Wakefield’s Industrial Advisory Group represented MCA Realty and the seller. Scott Stewart of Lee and Associates will oversee leasing at the property.
Starbucks property in Perris sells for $4.8 million
A newly built Starbucks café and drive-through in Perris sold recently for $4.8 million.
Hanley Investment Group in Corona del Mar represented the seller and developer, Yellow Rose Ranch LLC, an affiliate of The Lynch Group of El Segundo. The buyer was only identified as a private investor from Newport Beach. That investor was represented by I.D.L. Home, also in Newport Beach.
“The sale represents one of the highest annual rents ever recorded for a Starbucks café drive-thru in Riverside and San Bernardino counties, as well as the all-time highest price per square foot sale of a single-tenant Starbucks café drive-thru with an initial 10-year lease term in the Inland Empire,” said HIG Executive Vice President Bill Asher.
The 2,200-square-foot building includes a double drive-thru and represents the newest Starbucks prototype, according to HIG. It sits on a three-quarter-acre parcel at 3939 Ramona Expressway. The 2025 construction Starbucks includes a corporate 10-year triple-net lease with 10% rental increases every five years during the primary term and each of the four five-year options.
HIG said that in 18 months the firm has transacted for clients 18 single-tenant Starbucks property sales valued at $55 million.
On the move
The Southern California chapter of NAIOP SoCal recently chose its 2026 Executive Committee, which will be led by President Stephane Wandel of The Orden Co. President-elect Brooke Birtcher Gustafson with Birtcher Development; Vice President Brian Baker from JP Morgan Chase, treasurer Greg Brown from JLL; secretary David Nazaryk with Trammell Crow Co; programs and education liaison Fran Inman with Majestic Realty Co.; and past president Mark Mattis from Avison Young.
The professional organization is also rebranding itself this year as the Commercial Real Estate Development Association or CREDA SoCal. As of last year, the chapter was the second-largest in North America with 1,300 members.
Nathan Demosthenes and Matt Peters recently joined SRS Real Estate Partners in Newport Beach as vice presidents. Brody Shemansky also joined the firm as an associate. Demosthenes specializes in industrial investment activity in Orange County and previously worked as a director at Cushman & Wakefield. Peters has experience advising owners and investors across the Los Angeles and Orange County markets, focusing on industrial sales, leasing and investment strategies. He previously was a vice president at Voit Real Estate Services. Shemansky also previously worked at Cushman & Wakefield, where focused on industrial properties as an associate.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.