Cathedral City, Temecula and Redding, Calif. — SRS Real Estate Partners has arranged the sales of three restaurant properties in separate transactions totaling $10 million. Starbucks Coffee occupies the three newly constructed drive-thru properties, which operate under long-term, corporate-guaranteed triple-net leases.
The first transaction includes a 1,900-square-foot property in Cathedral City. A Northern California-based private investor acquired the café from a Newport Beach, California-based retail and restaurant development company for $3.7 million. Alexander Moore of SRS Capital Markets represented the buyer in the deal.
The second transaction features a 3,600-square-foot property at 27425 Ynez Road in Temecula. A West Coast-based developer sold the café to a California-based private investor for $3.6 million. Pat Kent and Parker Walter of SRS Capital Markets brokered the sale.
The final transaction comprises a 2,055-square-foot building in Redding that sold for $2.7 million. Alexander Moore of SRS Capital Markets represented the seller, a California-based private investor, and the buyer, a Northern California-based private investor, in the transaction.