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Inglewood Starbucks Trades for Record Price Per Square Foot
SRS Real Estate Partners’ National Net Lease Group (NNLG) completed the $5.1-million sale of a 1,008-square-foot, single-tenant property occupied by Starbucks. Built in 2021, the property is situated on 0.4 acres at 801 E. Manchester Blvd. in Inglewood, within walking distance to SoFi Stadium, The Forum and the under-construction Intuit Dome.
The closing cap rate was 3.92% and the price per square foot was $5,060, a record high price per square foot for any Starbucks-occupied asset on a national basis, according to CoStar records.
NNLG VP Brian Wolfman and senior associate Zach Leffers represented the seller, a Los Angeles-based private investor. The buyer, a Los Angeles-based family office, was represented by David Oberg and Zach Ordin of DLO Realty Group.
“While the current cap rate climate is trending upwards, we were able to drive pricing on this asset due to the investment grade tenancy with 13 years remaining on the absolute corporate-guaranteed lease structure as well as the extremely strong underlying real estate,” said Wolfman.
- ◦Sale/Acquisition




