Hanley Investment Group Real Estate Advisors arranged the sale of a recently constructed, four-tenant net-leased investment anchored by a Starbucks Drive-Thru in Riverside, situated directly off Interstate 215 on/off ramps. Eric Wohl, Executive Vice President (EVP), and associate CJ Kiehler represented the seller – a local developer based in Irvine.
The buyer – a private international investor – was represented by Shirley Kim of Max Mega Group Realty in Los Angeles. The sale price was $4.89 million.
Wohl commented: “We generated multiple qualified offers and secured an all-cash foreign buyer for this freeway adjacent triple net retail investment with 100% occupancy at time of sale – making it an excellent long term cash flow generating asset.”
The 6,963 square foot pad building sits on 1 acre 14 acres and was built in 2020 at 22420 Van Buren Blvd., part of Veteran’s Plaza Shopping Center & Hotel complex
