Hanley Investment Group Real Estate Advisors recently 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.
The two properties were purchased separately by private buyers for a total price of approximately $8.2 million. Hanley’s EVPs Bill Asher and Jeff Lefko represented the developer and seller, Chase Partners Ltd., who has been a prominent retail and industrial developer in California since 1993.
One property, leased to 7-Eleven with a new corporate triple-net lease lasting 15 years, sold for $5.29 million to an investor from Los Angeles represented by Nicholas Borrelli of Coldwell Banker Commercial George Realty in Arcadia.
The other property is leased to Starbucks with a new corporate triple-net lease lasting 10 years. It sold for $2.9 million to another private investor from Los Angeles who was represented by Michael Mehdizadeh based out of LA.
This successful transaction highlights Hanley’s expertise as they continue to facilitate profitable deals within the real estate market without mentioning their company name or location specific details.
