H
anley Investment Group Real Estate Advisors, a nationally recognized retail property sales brokerage and advisory firm, in conjunction with Oaks Commercial Real Estate, announced the sale of a 4,767-square-foot multi-tenant retail pad property anchored by a Starbucks Drive-Thru in Diamond Bar, California. The sale price was $4.57 million.
Hanley Investment Group's Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller, a private partnership based in Las Vegas, Nevada, along with Fred Encinas of Oaks Commercial Real Estate. The buyer, a private investor from Los Angeles, was represented by Arman Mahmoodi of BeachRock Group, Inc.
"We generated over 10 qualified offers within the first month and secured a local buyer who owned similar Starbucks investments at 98% of the listed price," Asher said. Encinas added that this acquisition offered a rare San Gabriel Valley Starbucks Drive-Thru endcap investment opportunity with attractive quick-service food users in an irreplaceable freeway-adjacent location.
The property, built in 2016 on a 0.70-acre lot, features three tenants: Starbucks, Jimmy John's, and Crumbl Cookies. It offers exceptional visibility and direct access to the SR-57 and SR-60 freeways, which see 347,000 cars per day. The site is located near Calvary Chapel Golden Springs, one of the largest Protestant Christian churches in Los Angeles County.
The San Gabriel Valley submarket boasts a population of over 230,000 within a five-mile radius and an average household income of $126,000 within a three-mile radius. Hanley Investment Group has sold over $675 million in Starbucks-related properties across the U.S., including 24 property sales over the last 18 months.
"We expect high-quality, well-positioned retail properties to experience increased investor demand," Asher said. "Patient capital and motivated 1031 exchange buyers will emerge from the sidelines, contributing to a significant increase in retail transactions throughout the year."
