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9/23/26
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A newly remodeled single tenant Starbucks café and drive thru in Phoenix sold in a $4.13 mil transaction. The 4.6k sf building, originally constructed in 2003, is located at 15615 South Desert Foothills Pkwy, at Chandler Blvd.
The former bank building was fully remodeled in 2025 and converted into a single tenant Starbucks café with a double drive thru. The property features Starbucks’ new strategic “Back to Starbucks” prototype with redesigned interiors, expanded seating, and an improved ambiance that supports work, socialization and relaxation.
The store operates under a new 10 year triple net (NNN) corporate guaranteed lease and sits on a large 1.25 acre parcel with a double drive thru, a configuration that supports strong operational efficiency and high throughput. It is the only Starbucks drive thru within a 4.5 mile radius and ranks as one of the top busiest locations in the district of approximately 30 stores, a performance level that reflects the strength of the site and the surrounding trade area.
Hanley’s Senior Vice President Sean Cox and Executive Vice President Bill Asher, in association with Lee Csenar of Hanley Investment Real Estate Advisors, Inc., represented the seller, private investors affiliated with Pooya Dayanim, and Andrew Gharibian with Chaser Capital, based in Los Angeles. The buyer, a private investor from Los Angeles County, was represented by Thomas Chou of ALTC Realty.
We’re told that the listing generated six offers from private investors and 1031 buyers, creating a highly competitive bidding environment for the newly converted asset. The 1031 exchange buyer already has a portfolio of three Starbucks properties in the Phoenix metropolitan area, a profile that reflects strong familiarity with the brand and confidence in the store’s long term performance.
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