Marcus & Millichap Brokers Sell Two IHOP Properties In Los Angeles For $6.8M

Two IHOP-net-leased retail properties in Los Angeles County, located at 1650 West Avenue K and 39176 10th Street West in Lancaster & Palmdale, were sold for a combined total of $6.8 million. The properties featured a new 23-year lease with 1.5% annual increases and a 30-unit guarantee. The deal was facilitated by Andre Thompson and Peter Deltondo of Marcus & Millichap, with the seller also being represented by the same firm.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $6,800,000
• Address: 1650 West Avenue K & 39176 10th Street West
• Market: Lancaster & Palmdale
• Brokers: Andre Thompson & Peter Deltondo - Marcus & Millichap

The transaction involved a private investor acquiring the two IHOP-net-leased retail properties in Los Angeles County. The properties are secured with a long-term lease agreement featuring annual rent increases and a guarantee of 30 units. Andre Thompson and Peter Deltondo, representing Marcus & Millichap, played a pivotal role in the deal, ensuring a successful transaction for the parties involved.