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Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.8 million sale of a newly constructed single-tenant retail property situated at 4990 Van Blvd. in Riverside. A Dutch Bros Coffee drive-thru occupies the 1,025-square-foot building on a 15-year absolute triple-net ground lease with 10 percent rental increases every five years. Located on a .39-acre retail pad, the building sits adjacent to a Walmart Supercenter and McDonald’s.
Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Zach Bonsall and Braden Bernards of Portland, Oregon-based Cole Valley Partners. Mark Troughton of Mark Troughton Real Estate represented the 1031 exchange buyer, a Long Beach, California-based private investor.