Jan 10, 2020 (AB Digital via COMTEX) — FRESNO, Calif. – Hanley Advance Group Absolute Acreage Advisors, a nationally accustomed absolute acreage allowance and advising close specializing in retail acreage sales, appear today that the close has completed the auction of a brand-new, single-tenant Starbucks with a drive-thru amid in Fresno, California. The auction amount of $2,825,000 represented a cap amount of 4.35% and a amount per aboveboard bottom of $1,345.
Hanley Advance Group Executive Vice Presidents Jeff Lefko and Bill Asher represented the seller, a Fresno-based absolute acreage advance and development firm. The buyer, a clandestine broker from San Jose, California, was self-represented.
Built in 2019 on 0.45 acres, the 2,100-square-foot, freeway-visible acreage is amid at 5211 West Shaw Avenue, at the circle of West Shaw Avenue and Arctic Dale Avenue, abreast the Golden Accompaniment (99) Highway in Fresno. The acreage allowances from the 33,000 cars per day forth Shaw Avenue, the basic east/west avenue in Fresno, and the adjoining Highway 99 with 80,000 cars per day, a above arterial for California’s Central Valley.
According to Lefko, the acreage currently is the alone Starbucks drive-thru east of Highway 99 in a three-mile radius. In-N-Out, McDonald’s, Carl’s Jr. and Taco Bell, all drive-thru quick-serve restaurants, are amid in the actual area.
The acreage is amid aural bristles afar of California Accompaniment University, Fresno, with 24,000 acceptance and 13 afar from Fresno Pacific University with 3,000 students. There are added than 187,000 bodies aural a five-mile radius.
With a census-estimated 2018 citizenry of 530,093, the burghal of Fresno is the fifth-most crawling burghal in California, the best crawling civil burghal in California, and the 34th-most crawling burghal in the nation.
Fresno is abreast the bounded centermost of California. It lies about 220 afar arctic of Los Angeles, 170 afar south of the accompaniment capital, Sacramento, and 185 afar southeast of San Francisco.
“We generated assorted able offers while business the acreage and closed escrow at 99% of the listed auction amount aloof afterwards Starbucks opened for business,” acclaimed Lefko.
“Starbucks has become one of the best arresting and avant-garde retailers in today’s market,” said Asher. “As a net-lease acquiescent investment, Starbucks provides investors with a defended and abiding advance that requires little to no maintenance. Further, the food are anchored in high-traffic locations with able demographics.”
Starbucks Corporation appear that in the fourth division of 2019, U.S. comparable-store sales were up 6%, both apprenticed by a 3% access in boilerplate admission and a 3% access in commensurable transactions. The aggregation opened 630 net new food in the fourth quarter, acquiescent 31,256 food at the end of the quarter, a 7% access over the above-mentioned year.
Lefko and Asher are one of the best alive allowance teams in the auction of single-tenant and multi-tenant coffee investments in California, alignment the auction of 25 backdrop admired at over $86 actor in the aftermost two years, abounding at almanac cap rates.
Earlier aftermost month, Hanley Advance Group abiding the auction of a trophy, flagship resort area Starbucks in Mammoth Lakes, California, a 4,435-square-foot Starbucks, the better Starbucks architecture in the accompaniment of California.
“Our contempo sales with Starbucks assets authenticate how advancing investors are accommodating to be in adjustment to access well-located, pride-of-ownership absolute estate,” Lefko noted.
Asher adds, “Coffeehouses abide to be a cogent abode of burning alfresco of the home, with sales extensive $26.3 billion; Starbucks fabricated up about bisected of the absolute coffeehouse sales.”
Lefko and Asher are currently business for auction new-construction, single-tenant Starbucks with a drive-thru in both Twentynine Palms and Imperial Valley, California as able-bodied as a new-construction The Coffee Bean & Tea Leaf with a drive-thru in Long Beach, California.
About Hanley Advance Group
Hanley Advance Group Absolute Acreage Advisors is a retail advance advising close with a $6 billion transaction clue almanac nationwide, who works carefully with alone investors, lending institutions, developers, and institutional acreage owners in every angle of the transaction to ensure that the accomplished amount is achieved.
For added information, visit www.hanleyinvestment.com.
Media Contact Aggregation Name: Hanley Advance Group Absolute Acreage Advisors Contact Person: Jeff Lefko, Executive Vice President Email: Send Email Phone: 949.585.7682 Address:3500 E. Coast Highway, Suite 100 City: Corona del Mar State: California Country: United States Website: http://www.hanleyinvestment.com/
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