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5/13/25
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A new construction, 928 sf Starbucks Drive-Thru in Riverside traded hands in a recent $2.85 mil ($3,071/sf) transaction. The single-tenant building, featuring a drive-thru and walk-up window, sits on a .96-acre parcel at 2050 East Alessandro Blvd.
The Starbucks operates under a new 10-year triple-net lease with 10% rental increases every five years throughout the base term and the four five-year option periods.
Constructed in 2024, the property benefits from its location at the signalized intersection of East Alessandro Blvd and San Gorgonio Dr, which experiences a combined traffic flow of approximately 51,400 cars per day. The site also offers convenient access to Interstate 215, with traffic counts exceeding 162,000 cars per day.
The property is strategically positioned within an active industrial and flex space market, located between the Sycamore Canyon Business Park (12.6 msf) and the Meridian Business Park (16 msf). This proximity provides a significant daytime population and consumer base, with major national tenants such as Amazon, UPS, Burlington, Kroger, Pepsi, Cardinal Health, Hot Topic, and Sysco having distribution centers in the immediate area. The Meridian Business Park alone is projected to support 18,000 jobs.
The Starbucks enjoys excellent access and visibility, situated adjacent to Farmer Boys and the Riverside County Office of Education, with ingress and egress from both East Alessandro Boulevard and San Gorgonio Drive. The surrounding trade area is affluent, with over 240,500 people residing within a five-mile radius and an average household income exceeding $111,000 within a three-mile radius. Starbucks benefits from a substantial daytime population of over 392,700 employees within a seven-mile radius. The Inland Empire location has experienced significant growth, with an 88.61% increase in population within a three-mile radius between 2010 and 2020.
Eric Wohl and CJ Kiehler with Hanley Investment Group Real Estate Advisors represented the seller, Atman Kadakia of Greens Group, a private developer based in Irvine. The buyer, a private investor from Southern California, was repped by Sam Olmstead with Voit Real Estate Services. According to Wohl, the listing generated multiple qualified offers that led to an all-cash SoCal-based 1031 exchange buyer who closed at 98% of the list price.
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