Azusa, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly renovated single-tenant retail property in Azusa, approximately 27 miles northeast of downtown Los Angeles. Los Angeles-based California Icon LLC sold the property to Glendale, California-based MTSA Properties for $4.3 million.
Starbucks Coffee occupies the 3,800-square-foot building on a new long-term absolute triple-net lease. The building was originally constructed in 1970 and renovated in 2025 to meet the company’s newest prototype. The property features a café with interior seating, a patio and a drive-thru.
Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Sheila Alimadadian of Marcus & Millichap represented the buyer in the transaction.
Hanley Investment Group has closed more than $714 million in Starbucks property transactions nationwide, including 17 Starbucks-occupied properties in California in the last 36 months.