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6/15/23
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A 1k sf, single-tenant property occupied by Starbucks in Inglewood sold for $5.1 mil. Built in 2021, the property is situated on .4 acres at 801 E. Manchester Blvd, within walking distance to SoFi Stadium, The Forum and the under-construction Intuit Dome.
The closing cap rate was 3.92% and the price per sf was $5,060, which is a record high price per sf paid for any Starbucks-occupied asset on a national basis according to CoStar records.
Brian Wolfman and Zach Leffers with SRS Real Estate Partners’ National Net Lease Group represented the seller, a Los Angeles-based private investor. The buyer, a Los Angeles-based family office, was repped by David Oberg and Zach Ordin of DLO Realty Group.
There are more than 890,000 residents and 325,000 employees within five miles of the property, in addition to the influx of visitors attending events at the major venues located across the street.
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