The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 13, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



RETAIL NEWS
Printer-friendly Version   Email an Associate
New Barstow Single-Tenant Property Sells for $1,000/sf

3/14/19

A new, 2.6k sf single-tenant retail property in Barstow sold for $2.6 mil, or $1,000/sf. The property, occupied by Dunkin’ (formerly known as Dunkin’ Donuts) and Baskin-Robbins, includes a drive-thru window.

Located midway between Los Angeles and Las Vegas, the 0.68-acre property is located at 2804 Lenwood Rd in Barstow, off I-15 freeway (58,000 cars per day) and adjacent The Outlets at Barstow, a popular regional destination. Two million shoppers and 13,000 tour buses annually visit The Outlets at Barstow, which includes a variety of national brands such as Banana Republic, Calvin Klein, Coach, Guess, Kate Spade, Lacoste, Michael Kors, Nike, Old Navy and Polo.

Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented the seller, an Orange County-based partnership. The buyer, a private investor from Los Angeles, was repped by Paul Bahk and James Chin of Realtex Properties Inc.

“We executed a pre-sale marketing strategy, securing a 1031 exchange buyer based in Southern California, including buyer waiving all contingencies prior to completion of construction,” said Asher. “We closed at 97% of the list price and closed escrow shortly after Dunkin’ opened for business.”

“Barstow is a popular half-way stop between Los Angeles and Las Vegas,” said Lefko. “Over 60 million people and 19 million vehicles travel through Barstow each year. Several major highways converge in Barstow: Interstate 15, Interstate 40, U.S. Route 66, State Route 58 and State Route 247. It is the perfect place to stop for gas and food. Nearby national and regional restaurants include In-N-Out Burger, Arby’s, Burger King, Carl’s Jr., Chili’s, Chipotle Mexican Grill, Del Taco, Denny’s, Dickey’s Barbecue Pit, El Pollo Loco, IHOP, McDonald’s, Panda Express, Panera Bread, Subway, Starbucks, The Habit Burger and Tommy’s.”

“The market for single-tenant assets with drive-thrus like Dunkin’ and Baskin-Robbins remains strong in Southern California,” said Asher. “This type of investment continues to be a retail investment of choice for passive investors, especially leased to national name-brand food tenants.”






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media