A Starbucks in La Palma was part of the sale.

A Starbucks in La Palma was part of the sale.

A portfolio of five newly built properties occupied by Starbucks Corp. stores have been sold in separate transactions in La Palma, Redondo Beach, El Cajon, Rosamond and Modesto for a combined $21.1 million.

The properties, which were built in 2021, were all single-tenant net-leased properties with drive-thrus.

Hanley Investment Group Real Estate Advisors arranged the sales for five different buyers and sellers.

The first transaction was in La Palma, which had a drive-thru-only Starbucks. The 895-square-foot location at 5014 Orangethorpe Ave. has a 20-year triple-net ground lease. It sold for $2.75 million to a private investor based in Brea. Team Spirit Realty Inc.’s Mike Yim represented the buyer. Hanley Investment Group’s Bill Asher, Jeremy McChesney and Jeff Lefko represented the seller, Festival Cos., in the transaction.

The second sale was a Starbucks at 4402 Redondo Beach Blvd. in Redondo Beach, which sold for $7.2 million. McChesney, Asher and Lefko represented the seller, Palos Verdes Estates-based 2 Street Ventures. The buyer was an unnamed private investor based in Laguna Beach.

The third sale was a 1,700-square-foot Starbucks at 850 N. 2nd St. in El Cajon. A private investor based in Orange County purchased the property for $3.9 million from Second & Peach Partners. Asher and Lefko represented the seller, and NAI Capital Commercial Inc.’s Mehran Foroughi represented the buyer.

In Rosamond, a 2,200-square-foot Starbucks at 2544 W. Rosamond Blvd. sold for $3.5 million. Asher and Lefko represented the seller, a private investor based in Nashville. Joey Kyung Sheen Kim of eXp Realty represented the buyer, an unnamed private investor based in L.A.

The last sale was an 1,850-square-foot Starbucks at 906 J St. in Modesto, which sold for $3.8 million. Asher and Lefko represented the seller, an unnamed L.A.-based developer. PMZ Commercial Real Estate’s Randy High represented the local buyer.

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