IE Business Daily Business news for the Inland Empire.
A San Bernardino parcel occupied by a Starbucks has been sold for $3.5 million.
A private investor in Orange County bought the drive-thru-only prototype at 291 E. Hospitality Lane, according to Hanley Investment Group in Corona Del Mar.
Hanley Investment represented the seller, a local developer. Both parties wished to remain anonymous.
Completed last year, the 1,200‑square‑foot building sits on a half-acre acre parcel and has a double drive‑thru. Its 15-year lease guarantees a 10 percent rent increase every five years.
The site is near Interstate 10 and Tri-City Corporate Centre, a 1.7-million-square-foot office, hospitality, and retail district.
“Demand for single‑tenant, service‑oriented assets leased to nationally recognized operators like Starbucks remains exceptionally strong,” said Bill Asher, executive vice president with Hanley investment, in the statement. “The combination of corporate credit, long‑term lease security, and high‑traffic at Inland Empire and Los Angeles County locations continues to resonate with buyers.”
