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California  + Inland Empire  + Net Lease  | 

Hanley Arranges Two Triple-Net Sales at Cathedral City Center

Hanley Investment Group Real Estate Advisors arranged the sales of two newly constructed, single-tenant retail properties at Cathedral Cove Center in downtown Cathedral City. The properties, occupied by Circle K and Starbucks, were sold to individual private buyers in separate transactions for a combined total of approximately $8 million.

EVPs Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller and developer, Fountainhead Developments. Both properties are under long-term triple-net leases.

The Circle K-leased property, located at 68835 E. Palm Canyon Dr., sold for more than $4.19 million. The buyer, a private 1031 exchange investor from Ventura, was represented by Joe Ahearn of Pinnacle Estate Properties.

The Starbucks property, located at 68995 E. Palm Canyon Dr., sold for $3.7 million. The buyer, a private investor in a 1031 exchange from Roseville, was represented by Alexander Moore of SRS Real Estate Partners.

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Hanley Investment Group Real Estate Advisors

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).

  • ◦Sale/Acquisition
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