Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 24, 2018
 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?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
NY-Based Investment Entity Pays $1,268/sf for Newly Constructed Inland Empire Starbucks

1/16/18

New York-based Fata Organization LLC recently purchased a newly developed, 2.5k sf single-tenant, NNN-leased retail property that is occupied by Starbucks Coffee with a drive-thru. The property, located at 17142 Slover Ave in Fontana, traded for $3.17 mil, or $1,268/sf.

The asset is part of Palm Court Center, a 630k sf power center anchored by Super Target, Ross, TJ Maxx and 24 Hour Fitness. The center also includes Kaiser Permanente, which employs more than 500 people and draws hundreds of daily visitors. Starbucks is located on an outparcel to the center, and enjoys great visibility and direct access from Slover Avenue.

Christopher DePierro and Jeff Conover with Faris Lee Investments represented the seller, Southern California-based Puente Hills Power Center LLC. The buyer was repped by Matt Brooks, also with Faris Lee Investments. The property sold at a cap rate of 4.1%, which represents the lowest cap rate for a freestanding Starbucks sold in Riverside/San Bernardino Counties with a price point over $2.75 mil.

“Newly constructed single-tenant properties in prime locations are opportunities investors seek out, however, they are difficult to find especially in Southern California,” noted DePierro. The all-cash buyer was a 1031 exchange investor.




Return to the previous 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 © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media