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Applebee's Sells in 1031 Exchange

Restaurant Purchased for $3.3M
By Debra Bixel
August 17, 2004 | 11:47 AM

PB Income Fund LLC acquired the Applebee's Restaurant in Ontario, CA, in a 1031 exchange. Located at 1021 N. Milliken Ave., the 5,412-square-foot freestanding building sold for $3.3 million, about $610 per square foot, with a 7% cap rate.

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