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Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a newly constructed, 928-square-foot single-tenant retail property located in Riverside. Starbucks Coffee occupies the building on a 10-year, triple-net-lease with scheduled rent increases every five years. Situated on 0.96 acres, the building features a drive-thru and walk-up window.
Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, Atman Kadakia of Greens Group, in the transaction. Sam Olmstead of Voit Real Estate Services represented the 1031 exchange buyer, a Southern California-based private investor.