IE Business Daily Business news for the Inland Empire.
Two buildings in Rancho Cucamonga, one occupied by a Chipotle Mexican Grill, the other by a Starbucks Drive-Thru, have been sold for $6.2. million.
Chase Partners Ltd. in Glendale, the property’s developer, sold the property to a private investor in Los Angeles whose name was not released, according to Hanley Investment Group in Corona Del Mar.
Hanley Investment represented Chase Partners in the transaction.
The stand-alone structures are next door to each other on a 1.3-acre parcel at 10811-10831 Foothill Blvd. The site is across the street from the Terra Vista Town Center, a 645,000-square-foot regional shopping center.
Starbucks, which occupies 4,000 square feet, recently signed 10-year lease extension. Based on customer traffic, it’s in the top 15 percent of Starbucks restaurants nationwide.
Chipotle, which covers 2,508 square feet, recently signed a five-year extension and has nine years remaining on its lease. It’s in the the top 25 percent of Chipotle restaurants in California based one customer traffic.
Both structures were built in 2023. Chase Partners recently renovated the property, according to Hanley Investment.
