IE Business Daily Business news for the Inland Empire.
A Starbucks Cafe & Drive-Thru in Perris has been sold for $4.8 million.
Hanley Investment Group in Corona Del Mar represented the seller, Yellow Rose Ranch, LLC, according to a statement,
Yellow Rose Ranch also developed the property at 3939 Ramona Expressway. The buyer was a private investor from Newport who declined to be identified.
The 2,200-square-foot building, sits on a 0.75-acre parcel at Ramona Expressway and Webster Avenue. Built last year, the building has a 10-year triple-net lease with 10 percent rental increases every five years.
The Starbucks site is part of the Perris Gateway Commerce Center, a mixed‑use and logistics development that broke ground two years ago and is being built in phases, when completed, that project will include 950,000 square feet of logistics and a 37,000‑square‑foot commercial center.
Perris Commerce Center is expected to create nearly 2,000 jobs when it’s completed, according to CBRE.
