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CBRE Completes $2.7M Sale of Starbucks in Glendale
CBRE arranged the $2.66 million sale of a 2,400-square-foot, newly constructed single-tenant retail property leased to Starbucks at 5905 West Olive Ave. in Glendale. The property sold for $1,108-per-square-foot.
CBRE’s Andrew K. Fosberg, Christopher Ackel and Dylan A. Brown represented the seller, Scottsdale-based SimonCRE Robert, LLC, an entity formed by SimonCRE (Joshua Simon, principal). The buyer, New Era Holding, LLC, was represented by XCD Realty & Property Management’s Samir Sawhney.
“In addition to its strategic location across from Glendale Community College, investors were drawn to the opportunity to acquire a brand new, free-standing retail property leased to an iconic, credit-backed national tenant,” said CBRE’s Fosberg.
The property was built in 2019 as a build-to-suit for Starbucks, and features a drive-thru and patio. It is located at the southwest corner of Olive and 59th avenues, directly across the street from Glendale Community College.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

