Culver City, Calif., Alexandria, La. and Ocala, Fla. — Hanley Investment Group Real Estate Advisors and Enduring Real Estate have brokered the sales of three, single-tenant net lease retail properties occupied by Starbucks. The combined total of the sales was approximately $10 million.
One of the properties, a 2,249-square-foot building in Culver City, is located at 12313 Jefferson Blvd. and does not have a drive-thru. Built in 2007, the building is situated at the entrance to Playa Vista, which is home to Facebook, Google, Microsoft, Yahoo, YouTube, Fox Sports, Nike and WeWork. Joe Wojdowski of Enduring Real Estate in San Diego, in conjunction with Asher and Jeff Lefko of Hanley Investment Group, represented the seller, a Los Angeles-based private investor. The buyer, also a private investor based in Los Angeles, was represented by Farzad Halavi. The sale price was $5.1 million, representing $2,266 price per square foot. The other two properties were a single-tenant Starbucks drive-thru in Alexandria and a single-tenant Starbucks drive-thru in Ocala. The Alexandria property was built in 2020. The 2,211-square-foot building is located on 0.5 acres at 755 MacArthur Drive. The seller was Dorsey Development of Metairie, La. Asher, Lefko and Beau Velten of Hanley, in conjunction with Wojdowski at Enduring and ParaSell Inc., represented the seller and buyer, a private investor based in Los Angeles. The sales price was not disclosed. Built in 2021, the Ocala property is a 2,500-square-foot building located at 3537 SE Maricamp Road. The property sits on a one-acre parcel in the Saddleback Square Shopping Center, which is currently being redeveloped. Sonny Molloy, Jared Kaye and Cole Snyder of Marcus & Millichap’s Atlanta office represented the seller, a private investor based in Tulsa. Hanley Investment Group’s Asher and Wojdowski at Enduring, along with ParaSell, represented the buyer, a private investor based in Los Angeles. The sales price was not disclosed.