Record-Low Cap Rates in the High Desert and Los Angeles County
COVINA & HESPERIA, Calif. – (RealEstateRama) — 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 has completed the sale of two brand-new construction single-tenant corporate Starbucks in separate transactions in Southern California.
In San Bernardino County in the city of Hesperia, Hanley Investment Group Executive Vice President Bill Asher and Associate Jeff Lefko represented the seller in the sale of a brand-new single-tenant Starbucks with a drive-thru for $3,190,000, representing a cap rate of 4.36 percent and $1,595 per square foot. According to CoStar, this sale achieved a record-low cap rate for a single-tenant Starbucks in the High Desert region and a record high price per square foot in the city of Hesperia for a single-tenant retail sale.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $6 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.
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