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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
- ◦Sale/Acquisition




