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Hanley Arranges Sales of 7-Eleven, Starbucks in Merced

Hanley Investment Group Real Estate Advisors arranged the sale of two brand-new construction, single-tenant properties occupied by a 7-Eleven convenience store with a gas station and the adjacent Starbucks, a drive-thru-only prototype in Merced. The two properties were purchased by two individual private buyers in separate transactions for a combined price of approximately $8.2 million.

In both transactions, Hanley EVPs Bill Asher and Jeff Lefko represented the developer and seller, Glendale-based Chase Partners Ltd., a leading retail and industrial developer in California since 1993.

The 7-Eleven-leased investment, with new corporate 15-year triple-net lease, sold for $5.29 million. The buyer, a private investor from Los Angeles, was represented by Nicholas Borrelli of Coldwell Banker Commercial George Realty in Arcadia.

The Starbucks-leased investment, with a new corporate 10-year triple-net lease, sold for $2.9 million. The buyer, a private investor from Los Angeles, was represented by Los Angeles-based Michael Mehdizadeh.

Read More News Stories About: Coldwell Banker Commercial
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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