Hanley Investment Group Arranges Sale of New Construction Starbucks Drive-Thru in California’s Central Valley for $3.4 Million, $1,700 PSF

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Hanley Investment Group Arranges Sale of New Construction Starbucks Drive-Thru in California’s Central Valley for $3.4 Million, $1,700 PSF

March 04
14:48 2024
Hanley Investment Group Arranges Sale of New Construction Starbucks Drive-Thru in California’s Central Valley for $3.4 Million, $1,700 PSF

VISALIA, Calif. – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a newly constructed Starbucks Drive-Thru in Visalia, California. The single-tenant building, featuring a café and double drive-thru, sold for $3.4 million, representing $1,700 per square foot. 

Hanley Investment Group’s Vice Presidents Sean Cox and Alexander Moore, along with Executive Vice Presidents Bill Asher and Kevin Fryman, represented the seller and developer, Stock Five Development, based in Fresno, California. The buyer, a Los Angeles-based private investor, was represented by David Mouallem with D.M. Realty Inc. of Los Angeles. 

“We sourced an all-cash 1031 exchange buyer from Los Angeles within just a few weeks of formally marketing the property for sale,” said Cox. “We negotiated a 15-day due-diligence period and closed just 20 days after opening escrow.” 

Constructed in 2023, the 2,000-square-foot Starbucks building sits on 0.64 acres at 237 West Caldwell Avenue within the Cameron Creek Marketplace. This new regional retail and residential development is home to 30 new residences and neighboring businesses such as Jack in the Box, Arco Gas Station with an ampm convenience store, a national car wash, and future retail.

Strategically located between two signalized intersections—West Caldwell Avenue and South Court Street (with a combined traffic flow of 32,000 cars per day) and South West Street—Starbucks benefits from its placement along Caldwell Avenue, a major east/west thoroughfare in South Visalia. The area connects directly to the heavily trafficked retail intersection of West Caldwell Avenue and South Mooney Boulevard, along with the State Route 99 on-ramp, seeing a combined traffic flow of 55,000 and 69,000 cars per day, respectively. Additionally, the property enjoys an affluent trade area, boasting an average household income of $101,646 within a one-mile radius. 

Notable national retailers in the vicinity include Walmart Supercenter, Costco, Target, Lowe’s, Sprouts, Best Buy, DICK’s Sporting Goods, Smart & Final, Petco, Lowe’s, Hobby Lobby, BevMo!, Raising Cane’s, and McDonald’s, among others.

Visalia is situated in the heart of California’s San Joaquin Valley, approximately 43 miles southeast of Fresno and 190 miles north of Los Angeles. The San Joaquin Valley is pivotal in California’s agriculture, contributing significantly to the state’s output. It constitutes the southern portion of the vast Central Valley, spanning 20,000 square miles. The Central Valley hosts one of the world’s largest economies and lies within a four-hour drive of 90% of California’s population, with an estimated extended trade area encompassing around 586,000 residents.

Hanley Investment Group is a market leader in the sale of Starbucks investments in the U.S. and has sold 46 Starbucks properties in California. Among these is the recent $3.25 million sale of a Starbucks Drive-Thru in Los Angeles, built in 2017 and located approximately one mile from the University of Southern California, which has over 49,000 students. 

Moore remarked, “Investors seeking stable returns often turn to single-tenant properties leased to strong credit tenants like Starbucks. These assets, particularly when occupied by nationally recognized brands, offer a blend of reliable income, minimal management requirements, and long-term leases. Moreover, despite market fluctuations, such investments provide a flight to quality in uncertain times.” 

About Stock Five Development

Stock Five Development is a premier real estate development company based in Central California that partners with leading national brands to build out their physical presence in strategically important markets across the state. The company acquires, develops and manages the properties on their behalf. Our approach to land acquisition is informed by a deep understanding of the local market and knowledge of the value that can be created through strategic development.

For more information, visit www.eliteteamoffices.com/stock-five-development.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

 

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Sean Cox, Vice President
Email: Send Email
Phone: 949.244.9335
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/

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