Hanley Investment Group (HIG) has arranged the sale of a new single-tenant Raising Cane’s Chicken Fingers restaurant in La Habra, California, for $3.96 million. The sale achieved $1,222 per square foot and a 4.04% cap rate, an all-time record-low cap rate in the U.S. for this brand, according to CoStar.
Raising Cane’s is a rapidly growing Louisiana-based restaurant company known for its chicken-finger meals. The property is a 3,239-square-foot building with a drive-thru.
More info at SoCal Real Estate:
Record-Low Cap Rate for La Habra Raising Cane’s Asset