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California  + Inland Empire  + Retail  | 

Two New Starbucks Drive-Thru’s Change Hands

Hanley Investment Group Real Estate Advisors completed the sale of two brand-new construction single-tenant corporate Starbucks in separate transactions totaling $5.9 million, involving properties in Hesperia, CA and Covina, CA.

The Hesperia deal includes a 2,000-square-foot drive-thru Starbucks (pictured) that traded for $3.2 million, representing a record cap rate of 4.36% and record price of $1,595-per-square-foot. Built in 2017 on 0.81 acres, the property is located at 11412 Fashion Ct.  Hanley’s Bill Asher and Jeff Lefko represented the seller, National Development, Inc. The undisclosed Manhattan Beach-based private investor buyer was represented by Commercial Property Investments’ Don Kustudia.

The Covina Starbucks deal was arranged by Asher and Lefko on behalf of Fountainhead Delta, LP and traded for $2.7 million, representing a cap rate of 3.67% and $1,479-per-square-foot. Located at 19505 E. Cypress St., the property was bought by an unnamed private investor and represented by Growth Investment Group’ Han Widjaja Chen.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With Hanley’s AsherConnect With Commercial Property Investments’ KustudiaConnect With Growth Investment Group’s Chen

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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