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Restaurant

Panda Express w/ Dr-Thru - Top 8% in the Chain | NorCal | Absolute Net w/ Recent Lease Extension

966 Dana Dr, Redding (NorCal), CA 96003

Listing Price: $4,250,000

Cap Rate
4.00%
Tenant Name
Panda Express
Years Remaining On Lease
10.7
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$1,700.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$68.00

Investment Overview

Redding, California, located in the heart of the scenic Shasta Cascade region, is the economic and cultural anchor of far Northern California. With a population nearing 100,000 and serving a regional trade area of over 250,000 people, Redding plays a central role in retail, healthcare, and tourism in the North State. Its strategic location along Interstate 5—the major north-south artery connecting California to Oregon and Washington—makes it an ideal hub for commerce and distribution.

The city has seen consistent growth in both population and economic development, fueled by its affordability compared to other California metros and its business-friendly climate. Key industries in Redding include healthcare, education, government, light manufacturing, and an expanding retail sector. Major employers include Mercy Medical Center, Shasta College, and a strong mix of public and private institutions. The presence of regional medical centers and educational institutions contributes to a steady daytime population and local spending.

Retail development in Redding continues to thrive, with recent redevelopments and expansions drawing national brands to the area. The conversion of the former Costco building into a mixed-use retail center featuring tenants such as Raising Cane’s and At Home highlights the city’s ongoing commercial reinvestment. Redding’s retail corridors—particularly those along Hilltop Drive, Dana Drive, and Cypress Avenue—remain among the most active in the region, serving both local residents and a significant volume of interstate traffic.

Redding also boasts a strong tourism and outdoor recreation economy. Surrounded by mountains, lakes, and national parks, the city attracts visitors year-round for hiking, fishing, boating, and camping. Its high quality of life, combined with a stable housing market and lower cost of living relative to other parts of California, make it attractive to both residents and investors.

Investment Highlights

  • Corporate Backed Absolute Net Ground Lease. Recent 10-Year Lease Extension - 20+ Year Historical Occupancy Demonstrating a Strong Commitment to the Location. Ranked Top 8% in Chain Nationwide.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 35k Vehicles. Immediate Access to/from Interstate-5.
  • Panda Express, the Largest Asian Restaurant Chain in the U.S., is Owned by Family-Led Panda Restaurant Group, operating over 2,800 Locations Globally and known for Signature Dishes.
  • Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is One of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
  • Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
  • Surrounded by Numerous National Retailers including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe's, WinCo Foods and many more.
  • The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, an 1,800-Seat Event Center and a 1,500-Seat Outdoor Amphitheater.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    Managing Director Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Restaurant

Panda Express w/ Dr-Thru - Top 8% in the Chain | NorCal | Absolute Net w/ Recent Lease Extension

Listing Price: $4,250,000

Cap Rate
4.00%
Tenant Name
Panda Express
Years Remaining On Lease
10.7
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$1,700.00
Lease Type
NNN Ground Lease
Rent Per Square Feet
$68.00

Investment Highlights

  • Corporate Backed Absolute Net Ground Lease. Recent 10-Year Lease Extension - 20+ Year Historical Occupancy Demonstrating a Strong Commitment to the Location. Ranked Top 8% in Chain Nationwide.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 35k Vehicles. Immediate Access to/from Interstate-5.
  • Panda Express, the Largest Asian Restaurant Chain in the U.S., is Owned by Family-Led Panda Restaurant Group, operating over 2,800 Locations Globally and known for Signature Dishes.
  • Within Mt. Shasta Mall - a Popular Shopping Destination featuring more than 80 Stores. It is One of only Four Malls serving California North of Sacramento - Comprises the Largest gathering of Retailers within a 400 Mile Stretch of Interstate 5.
  • Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - More than 400k Sq.Ft. of New Retail Development planned within the Immediate Area.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $84k and over 98k People Residing within a 5-Mile Radius.
  • Surrounded by Numerous National Retailers including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe's, WinCo Foods and many more.
  • The City of Redding is the Center of Trade and Commerce for the Upstate Region of Northern California. It is the Largest City North of Sacramento and is Strategically Located on I-5, Equidistant Between Seattle and Los Angeles. Minutes from a Proposed New Casino, Hotel and Convention Center - Plans include a 69k Sq.Ft. Casino w/ 1,200 Slot Machines and 36 Game Tables, a 250-Room Hotel, an 1,800-Seat Event Center and a 1,500-Seat Outdoor Amphitheater.

Investment Overview

Redding, California, located in the heart of the scenic Shasta Cascade region, is the economic and cultural anchor of far Northern California. With a population nearing 100,000 and serving a regional trade area of over 250,000 people, Redding plays a central role in retail, healthcare, and tourism in the North State. Its strategic location along Interstate 5—the major north-south artery connecting California to Oregon and Washington—makes it an ideal hub for commerce and distribution. The city has seen consistent growth in both population and economic development, fueled by its affordability compared to other California metros and its business-friendly climate. Key industries in Redding include healthcare, education, government, light manufacturing, and an expanding retail sector. Major employers include Mercy Medical Center, Shasta College, and a strong mix of public and private institutions. The presence of regional medical centers and educational institutions contributes to a steady daytime population and local spending. Retail development in Redding continues to thrive, with recent redevelopments and expansions drawing national brands to the area. The conversion of the former Costco building into a mixed-use retail center featuring tenants such as Raising Cane’s and At Home highlights the city’s ongoing commercial reinvestment. Redding’s retail corridors—particularly those along Hilltop Drive, Dana Drive, and Cypress Avenue—remain among the most active in the region, serving both local residents and a significant volume of interstate traffic. Redding also boasts a strong tourism and outdoor recreation economy. Surrounded by mountains, lakes, and national parks, the city attracts visitors year-round for hiking, fishing, boating, and camping. Its high quality of life, combined with a stable housing market and lower cost of living relative to other parts of California, make it attractive to both residents and investors.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    Managing Director Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

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