Pomona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a newly renovated, single-tenant retail property located in Pomona, roughly 30 miles east of downtown Los Angeles. A Starbucks café occupies the 1,650-square-foot space on a 15-year, triple-net corporate lease with 10 percent rental increases every five years during the primary term. Originally constructed in 1977, the single-tenant building was converted from an independent fast food restaurant to Starbucks’ newest prototype.
Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Los Angeles-based LA Icon LLC. Brad Freeman of Freeman & Associates represented the buyer, a private investor also based in Los Angeles.
To date, Hanley Investment Group has closed more than $760 million in Starbucks property transactions nationwide, including 75 Starbucks-occupied properties in California.