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California  + Inland Empire  + Retail  | 

Single-Tenant Starbucks Drive-Thru Trades Hands

Hanley Investment Group Real Estate Advisors arranged the sale of a single-tenant Starbucks Drive-Thru at Lake Elsinore Marketplace, a 144,034-square-foot shopping center anchored by Costco, Lowe’s, Grocery Outlet, PetSmart and Dollar Tree. The $3,765,000 sale price represents a 4.25% cap rate.

Built in 2005 on 0.49 acres and renovated in 2020, the 3,200-square-foot Starbucks pad building is located at 29285 Central Ave. in Lake Elsinore. This sale represents the seventh pad building Hanley has sold in the last 11 months at Lake Elsinore Marketplace.

KW Premier Properties’ Tiffanie Wang represented the unnamed private investor buyer from West Covina. Hanley’s Kevin Fryman and Bill Asher represented the seller, Irvine-based Pacific Castle.

Asher says, “Starbucks had been seeking a drive-thru location for many years in this immediate trade area. Although drive-thrus have been a staple of QSR revenue for decades, representing 65% to 70% of a store’s sales, they are now more popular than ever in 2020 due to health concerns and the desire to socially distance.”

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With Pacific CastleConnect With KW Premier Properties’ WangConnect With Hanley Investment Group’s Fryman

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Lease
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