Representative photo (not actual property photo)

RIVERSIDE, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a brand-new construction Starbucks Drive-Thru in Riverside, California. The single-tenant building, featuring a drive-thru and walk-up window, sold for $2.85 million.

Hanley Investment Group's Executive Vice President Eric Wohl and Associate CJ Kiehler represented the seller, Atman Kadakia of Greens Group, a private developer based in Irvine, California. The buyer, a private investor from Southern California, was represented by Sam Olmstead, vice president, Voit Real Estate Services of Irvine, California.

"We generated multiple qualified offers and procured an all-cash Southern California-based 1031 exchange buyer who closed at 98% of the list price," Wohl noted.

Constructed in 2024, the 928-square-foot Starbucks building is situated on a 0.96-acre parcel at 2050 East Alessandro Boulevard in Riverside. The property benefits from its location at the signalized intersection of East Alessandro Boulevard and San Gorgonio Drive, which experiences a combined traffic flow of approximately 51,400 cars per day. The site also offers convenient access to Interstate 215, with traffic counts exceeding 162,000 cars per day.

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 property is strategically positioned within an active industrial and flex space market, located between the Sycamore Canyon Business Park (12.6 million square feet) and the Meridian Business Park (16 million square feet). This proximity provides a significant daytime population and consumer base, with major national tenants such as Amazon, UPS, Burlington, Kroger, Pepsi, Cardinal Health, Hot Topic, and Sysco having distribution centers in the immediate area. The Meridian Business Park alone is projected to support 18,000 jobs.

The Starbucks enjoys excellent access and visibility, situated adjacent to Farmer Boys and the Riverside County Office of Education, with ingress and egress from both East Alessandro Boulevard and San Gorgonio Drive. The surrounding trade area is affluent, with over 240,500 people residing within a five-mile radius and an average household income exceeding $111,000 within a three-mile radius. Starbucks benefits from a substantial daytime population of over 392,700 employees within a seven-mile radius. The Inland Empire location has experienced significant growth, with an 88.61% increase in population within a three-mile radius between 2010 and 2020.

Starbucks Corporation, founded in 1971 and headquartered in Seattle, Washington, is the world’s largest coffeehouse chain with over 40,000 stores in 84 countries. Recognized as one of the "World's Most Admired Companies" by Fortune (2009-2024) and consistently ranked as a top restaurant brand, Starbucks (NASDAQ: SBUX; S&P: BBB+) continues to demonstrate strong financial performance and global expansion. The company is strategically focused on enhancing its drive-thru experience, with plans for 80% of future stores to include this feature as part of its global growth strategy to reach 55,000 stores by 2030.

Wohl remarked, "Investors seeking stable returns often turn to single-tenant properties leased to strong credit tenants like Starbucks. These assets, particularly with new construction and drive-thru locations, offer a compelling blend of reliable income and long-term growth potential in dynamic markets like the Inland Empire."

Hanley Investment Group has closed $665 million in Starbucks-leased transactions nationwide, including eight Starbucks properties totaling $21 million in value within 18 weeks.

About Hanley Investment Group

Celebrating 20 years, Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with an over $11.5 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Eric Wohl, Executive Vice President
Email: Send Email
Phone: 949.585.7673
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/