**SRS Real Estate Partners Closes $10M in Starbucks Sales Across California**
SRS Real Estate Partners has completed the sale of three newly constructed Starbucks properties, totaling $10 million. Each property includes a drive-thru and benefits from a long-term, corporate-guaranteed triple-net lease. The transactions were all structured as 1031 exchanges and span across both Northern California and the Inland Empire.
The three deals include:
– A Starbucks located at the southwest corner of Highway 111 and Date Palm Drive in Cathedral City sold for $3.7 million, representing a 5% capitalization rate. Alexander Moore, Vice President with SRS Capital Markets, represented the buyer, a private investor from Northern California. The seller was a retail and restaurant development company based in Newport Beach.
– The property at 27425 Ynez Road in Temecula was purchased for $3.6 million at a 5.25% cap rate. Pat Kent and Parker Walter of SRS represented the seller, a West Coast-based developer, while the buyer was a private investor from California.
– A Starbucks located at 3045 Shasta View Drive in Redding traded for $2.67 million, also at a 5.25% cap rate. Alexander Moore represented both the seller, a California-based private investor, and the buyer, a Northern California-based investor.
These transactions reflect continued investor demand for premier retail assets with corporate-backed leases in strategic California markets.
