Hanley Investment Group Real Estate Advisors arranged the sale of a brand-new construction Starbucks Drive-Thru in Riverside. Featuring a drive-thru and walk-up window, the single-tenant building sold for $2.85 million.
EVP Eric Wohl and associate CJ Kiehler represented the seller, Atman Kadakia of Greens Group, a private developer based in Irvine. The buyer, a private investor from Southern California, was represented by VP Sam Olmstead of Voit Real Estate Services.
“We generated multiple qualified offers and procured an all-cash Southern California-based 1031 exchange buyer who closed at 98% of the list price,” said Wohl.
Constructed in 2024, the 928-square-foot Starbucks building is situated on a 0.96-acre parcel at 2050 E. Alessandro Blvd. in Riverside. The Starbucks operates under a new 10-year triple-net lease with 10% rental increases every five years throughout the base term and the four five-year option periods.
The post Riverside Starbucks Sells to 1031 Exchange Investor appeared first on Connect CRE.
