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8/08/25
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Three California Starbucks properties traded hands in recent deals totaling $10 mil. The properties include two Southern California/Inland Empire assets and one Northern California property. All of the properties include drive-thrus, are new construction and have long-term, corporate-guaranteed triple-net leases in place.
Here is information on each of the Starbucks transactions:
• A property at the southwest corner of Hwy 111 & Date Palm Drive in Cathedral City was sold for $3.7 mil at a closing cap rate of 5%. The 1.9k sf property is situated across from Aqua Caliente Casino. Alexander Moore with SRS Capital Markets represented the 1031 buyer, a Northern California-based private investor. The seller was a Newport Beach-based retail and restaurant development company.
• A property at 27425 Ynez Rd in Temecula sold for $3.6 mil and at a closing cap rate of 5.25%. The 3.6k sf property is an outparcel to a grocery-anchored center and is within a major retail corridor. SRS Capital Markets’ Pat Kent and Parker Walter represented the seller, a West Coast-based developer. The buyer was a private investor from California who was in a 1031 exchange.
• A property at 3045 Shasta View Drive in Redding sold for $2.67 mil at a closing cap rate of 5.25%. The 2.1k sf property is within a major commercial corridor for the submarket. SRS Capital Markets’ Alexander Moore represented the seller, a California-based private investor, as well as the buyer, a Northern California-based private investor who was in a 1031 Exchange.
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