Archive for January 2022

MANHATTAN BEACH, CA – Calbay Development, LLC has acquired the fee interest in a free standing bank branch building (with drive thru) along the prime retail corridor Hawthorne Blvd in Torrance, CA.  The property is approximately 1 acre and is improved with a +/- 5,750 sf commercial building with drive thru.   The property sits just north of the prominent intersection of Hawthorne Blvd and Pacific Coast Hwy.

Calbay acquired the site from an undisclosed seller arranged by CBRE, and intends to redevelop the site for either restaurant/café , medical office or retail showroom use.  Leasing inquiries should be directed to Ryan Shea at Calbay Development and/or Maryl Binney at Highland Partners.

ORANGE COUNTY, CA. — Calbay Development has started out 2022 with two property
acquisitions in Orange County. The first being a net leased El Pollo Loco in Orange, CA featuring a
drive-thru; and the second being a 1.6 acre redevelopment site in Santa Ana, CA which was
formerly occupied by Hometown Buffet.

Together, the two deals properties represent a deal size of approximately $6.5M, with over 14,800 sf
of leasable building space available at Santa Ana, and 2,200 sf of building space occupied at the El
Pollo Loco in Orange. The Santa Ana site boasts over 1.63 AC of land area on a signalized corner
on 17th Street and Lincoln Avenue, with quick on/off access to the I-5 Freeway. The El Pollo Loco
drive-thru sits comfortably on about half an acre on Chapman Avenue and is in close proximity to
notable landmarks like Chapman University and Old Towne Orange.

Bill Asher and Ed Hanley of Hanley Investments brokered the Santa Ana deal, whereas the El Pollo
Loco was purchased through James Slusher and Eric Shain of CBRE Newport Beach Office.