January 9, 2008
The Silver Group completes the Sale of a Reb Robin Restaurant in Rancho Mirage, California
  
The Silver Group started 2009 with the sale of a ground lease under a Red Robin restaurant in Rancho Mirage, California. The 1.37 acre site was within the Monterey Marketplace Shopping Center, co anchored by Home Depot, Signature Theater's 16-plex, IHOP, McDonald's, Wendy's and Panda Express. The buyer was a long time client who was seeking a well located, secure investment in the Palm Desert area. The Seller was the original developer who wanted to redeploy his equity into a new development. The price was negotiated to $1,360,000 and the rent is scheduled to increase by 10% in June 2009.

{< back}