Tacos Gavilan, a popular up-and-coming Southern California-based Mexican restaurant chain, paid $3.1 mil for 1.3 acres of land located at the southwest corner of Rosecrans Ave and Studebaker Rd in the city of Norwalk. The site is currently occupied by a vacant free-standing Walgreens, but provides a new development opportunity for Tacos Gavilan.
The existing Walgreens building will be razed and redeveloped into a new Tacos Gavilan. This new location represents the chain’s 14th site within Los Angeles and Orange counties. Tacos Gavilan plans to open for business by mid-2019. The site benefits from a lucrative traffic count of approximately 35,000 cars per day on Rosecrans and approximately 21,500 cars per day on Studebaker Rd.
Terrison Quinn, Casey Mahony and Adam Handfield with SRS Real Estate Partners represented the seller, Walgreens. NKF’s Peter Spragg repped Tacos Gavilan in the deal.
“Tacos Gavilan was attracted to the site given the strong traffic, ideal demographics and opportunity to own their own real estate. We’re seeing users get aggressive with purchase price and speed to close if there is an opportunity to control their destiny for decades to come,” said Quinn.