Hanley Investment Group Arranges Sale of Five Starbucks-Occupied Properties in Southern California

La Palma, Redondo Beach, El Cajon, Rosamond and Modesto, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of five single-tenant retail properties net leased to Starbucks Coffee in La Palma, Redondo Beach, El Cajon, Rosamond and Modesto. The properties were sold in five separate transactions for a combined value of $21.1 million.

Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group represented the sellers of the La Palma and Redondo Beach properties. Asher and Lefko represented the sellers of the El Cajon, Rosamond and Modesto properties.

In the first transaction, The Festival Cos. sold a drive-thru-only Starbucks property located at 5014 Orangethorpe Ave. in La Palma for $2.8 million. Mike Yim of Team Spirit Realty Inc. represented the buyer, an undisclosed private investor, in the transaction.

In the second transaction, Village Properties and 2 Street Ventures LLC sold a 2,014-square-foot Starbucks with a drive-thru located at 4402 Redondo Beach Blvd. in Redondo Beach. A private investor based in Laguna Beach, California, purchased the property for $7.2 million.

In the third transaction, Second & Peach Partners LLC sold a 1,700-square-foot Starbucks with a drive-thru located at 850 N. 2nd St. in El Cajon. Mehran Foroughi of NAI Capital represented the buyer, a private investor based in Orange County, California, which acquired the property for $3.9 million.

In the fourth transaction, a private investor based in Nashville sold a 2,200-square-foot Starbucks with a drive-thru located at 2544 W. Rosamond Blvd. in Rosamond for $3.5 million. Joey Kyung Sheen Kim of eXp Realty represented the buyer, a private investor based in Los Angeles County.

In the final transaction, a Los Angeles-based developer sold a 1,850-square-foot Starbucks with a drive-thru located at 906 J St. in Modesto for $3.8 million. Randy High of PMZ Commercial Real Estate represented the buyer, an undisclosed Modesto-based investor.

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