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California  + Los Angeles  + Net Lease  | 
SRS Real Estate Partners closed the sale of a Starbucks in Inglewood, CA that represented the highest price per square foot to date for a Starbucks location

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. 

Connect

Inside The Story

SRS NNLG's Wolfman

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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