News

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.

San Marcos, Calif. — Locally based Brixton Capital has acquired Civic Center Plaza, a 60,000-square-foot shopping center located in San Marcos, roughly 35 miles north of downtown San Diego. Originally developed in 2007 in conjunction with the city, the four-building center was 97 percent leased at the time of sale. Other tenants include LA Fitness, FedEx, Subway, Robek’s, PizzaNova and Ryan Bros Coffee. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller, the City of San Marcos, in the transaction, while Brixton internally represented the company in …

Cathedral City, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.2 million sale of a newly constructed, single-tenant retail property located in Cathedral City, approximately seven miles southeast of Palm Springs. A 3,700-square-foot Circle K convenience store occupies the building, which is situated within Cathedral Cove Center on a 20-year triple-net-lease with 10 percent rent increases every five years. Circle K is scheduled to open in fall 2025. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Newport Beach, California-based Fountainhead Development, in the …