Calbay Development Makes Two Orange County Acquisitions to Kick Off 2022

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.