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California  + Inland Empire  + Retail  | 

Essential Needs Retail in Strong Population Centers Draw Investors

Appetite for pandemic-resilient retail resulted in freestanding drive-thru buildings capturing a larger share of retail investment volumes in 2020 compared to the year prior, according to CBRE research. Drive-thru retail such as fast food, coffee and pharmacies, were active in the market throughout 2020, with more than 147,000 square feet of newly signed leases in the region.

One recent example is the $8.72 million sale of a 14,410-square-foot Walgreens-occupied property in Rialto to a private investor. The triple-net-leased property located at 918 E. Foothill Blvd, features a drive-thru.

Alan Krueger and Vanessa Haddad with CBRE represented the seller, Hospitality Group LLC, in the transaction.

“This property received a lot of interest and we were able to procure seven offers within two months,” said Haddad. “The sale of this Walgreens represented a record in the past 10 years. Essential needs retailers have fared well during the pandemic and have even increased in value during the past few months as buyers have been particularly drawn to safer investments in strong population centers.”

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition