Carl's Jr., Cameron Park, CA

The property

A single-tenant Carl's Jr. in Cameron Park, California, an established, affluent foothill community in El Dorado County. Cameron Park sits right on U.S. Highway 50 between Sacramento and Placerville, with strong household incomes, steady commuter traffic and limited new retail land. That's the kind of location that holds its value no matter what the headlines say.

The team

We worked the deal alongside Tyler Bindi and Jason Fefer of Marcus & Millichap.

The hard part

Timing we couldn't control. Right around our listing, a major Carl's Jr. franchisee in California filed for Chapter 11 covering 65 restaurants, and the brand was all over the news. In net lease, buyers price the tenant's credit, so headlines like that can freeze a deal. Our job was to separate this property from the noise: a different operator, a solid lease with 9 years remaining, and real estate in a strong market that would hold its value even in a worst-case scenario.

"Headlines move fast. Good real estate holds. We kept buyers focused on the dirt, the lease and the location." — Blake Haggett, CCIM

The result

The property sold at a 5.75% cap rate with 9 years of lease term remaining. That's a strong number for a QSR, especially with the brand's bankruptcy news front and center.

Selling a net lease property?

We'll position it to hold its value, even when the market gets noisy. Let's talk →