Hanley Investment Group Real Estate Advisors successfully facilitated the sale of two newly constructed, single-tenant properties in Merced. The properties are occupied by a 7-Eleven convenience store with a gas station and an adjacent drive-thru-only Starbucks prototype. These transactions were completed for a combined price of approximately $8.2 million, with each property being purchased by individual private buyers.
The developer and seller, Chase Partners Ltd., was represented by Hanley EVPs Bill Asher and Jeff Lefko – both experts in retail and industrial development in California since 1993.
One of the investments is leased to 7-Eleven under a new corporate triple-net lease agreement for 15 years, selling for $5.29 million to a private investor from Los Angeles who was represented by Nicholas Borrelli from Coldwell Banker Commercial George Realty in Arcadia.
The other investment is leased to Starbucks under a new corporate triple-net lease agreement for 10 years, selling at $2.9 million to another private investor from Los Angeles who was represented by Michael Mehdizadeh based out of LA.
