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Cathedral City, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a newly constructed, single-tenant retail property located in Cathedral City, roughly seven miles southeast of Palm Springs. Situated within the Cathedral Cove Center, a 1,900-square-foot Starbucks Coffee occupies the building on a 10-year triple-net-lease with 10 percent rent increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller in the transaction. Alexander Moore of SRS Real Estate Partners represented the 1031 exchange buyer, a Roseville, California-based private investor.