New 15‑year corporate leases, and high‑traffic locations drive two separate Starbucks transactions in Southern California

Hanley Investment Group Real Estate Advisors, a national real estate brokerage and advisory firm specializing in retail property sales, announced today the sale of two new single‑tenant Starbucks properties in Pomona and San Bernardino, California. The combined sales price was $8,139,000.

Hanley Investment Group’s Executive Vice President Bill Asher and Executive Vice President and Partner Jeff Lefko represented both sellers.

Starbucks — Pomona, California

The newly renovated, single‑tenant Starbucks café and drive‑thru located at 2302 North Garey Avenue in Pomona sold for $4,575,000. The buyer, a private investor based in Los Angeles completing a 1031 exchange, was represented by Brad Freeman of Freeman & Associates. Asher and Lefko represented the seller, LA Icon LLC of Los Angeles.

“We procured a repeat Southern California‑based 1031 exchange buyer through a broker relationship, both of whom we have successfully transacted with on multiple occasions,” Asher said. “We secured the buyer within days of closing their downleg, allowing them to confidently identify an upleg and close escrow early in their 1031 exchange period.”

The 1,650‑square‑foot building, originally constructed in 1977, was converted from an independent fast‑food restaurant and fully renovated in 2024 to Starbucks’ newest prototype. The property sits on a 0.38‑acre parcel at the hard‑corner, signalized intersection of Arrow Highway and Garey Avenue, which sees more than 38,000 cars per day.

The location benefits from dense, infill Los Angeles County demographics and proximity to major regional demand drivers, including The Claremont Colleges, the University of La Verne, the LA County Fairplex and Pomona Valley Hospital Medical Center. The property is also 200 feet from the Pomona Gold Line Metro Station and near new multifamily development.

The newly renovated Starbucks features a corporate 15-year triple-net lease with 10% rental increasesevery five years during the primary term and each of the three five-year options.

“This is a rare 15-year primary lease term with no early termination right, signaling strong long-term commitment to the site,” Asher said. “The buyer also benefitted from a lease structure that Starbucks was responsible for maintaining the property including the roof, a unique characteristic for a fee-simple Starbucks investment in California in today’s market.”

Starbucks — San Bernardino, California

The new‑construction, single‑tenant Starbucks drive‑thru‑only prototype located at 291 East Hospitality Lane in San Bernardino sold for $3,564,000. The buyer, a local investor from Orange County, California, was represented by David Kluver, senior vice president and principal with Lee & Associates in Newport Beach, California. Asher and Lefko represented the seller, a local developer.

“We procured a repeat Starbucks investor based in Southern California through a broker relationship and closed escrow on a rare Starbucks drive‑thru‑only prototype in the Inland Empire,” Asher said. “The combination of a new 15‑year lease, a prime freeway‑adjacent location and strong co‑tenancy resulted in premium pricing for this asset.”

Completed in 2025, the 1,200‑square‑foot building sits on a 0.58‑acre parcel and features a double drive‑thru designed to maximize operational efficiency and throughput, ideal for this very accessible and visible freeway location. The property is secured by a 15‑year corporate triple‑net lease, with no early cancellation clause and 10% rental increases every five years during the primary term and each of the four five‑year options.

The site benefits from a strategic, freeway‑adjacent location just off the Interstate 10 Freeway (210,600 cars per day) and the signalized intersection of Hospitality Lane and Waterman Avenue (55,000 cars per day). It is co‑tenanted with a new Quick Quack Car Wash, which Hanley Investment Group recently sold, and is positioned adjacent to the Tri‑City Corporate Centre, a 153‑acre, 1.69‑million‑square‑foot master‑planned office, retail and hospitality district.

The surrounding area includes several major hotels, providing consistent daily traffic and strong synergy for the tenant. The Inland Empire continues to experience significant population and economic growth, with more than 257,000 residents within five miles and a daytime population of 142,440 within three miles.

Starbucks (NASDAQ: SBUX), rated BBB+ by S&P, has been named one of Fortune’s “World’s Most Admired Companies” from 2009 to 2025 and operates more than 40,000 stores in 84 countries.

“Demand for single‑tenant, service‑oriented assets leased to nationally recognized operators like Starbucks remains exceptionally strong,” Asher said. “The combination of corporate credit, long‑term lease security and high‑traffic Inland Empire and Los Angeles County locations continues to resonate with private and 1031 exchange buyers.”

To date, Hanley Investment Group has arranged the sale of more than $760 million in Starbucks‑leased investments nationwide, including 75 Starbucks‑occupied properties in California.

Sierra del Oro Towne Centre is Hanley Investment Group’s sixth grocery-anchored shopping center sale over the last 12 months

Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Sierra del Oro Towne Centre, a 100%-occupied, 110,485-square-foot shopping center anchored by Ralphs and Dollar Tree in Corona, California. The sale price was not disclosed.

Sierra del Oro Towne Centre is Hanley Investment Group’s sixth grocery-anchored shopping center sale over the last 12 months.

Hanley Investment Group Executive Vice President Kevin Fryman and President Ed Hanley represented the seller, Phillips Edison & Company, Inc. (Nasdaq: PECO), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, headquartered in Cincinnati, Ohio. The buyer, a private 1031 exchange investor based in Northern California, was represented by Jesse Millman of Newmark.

In 2017, Hanley Investment Group represented the seller, Cornerstone Development Partners of Irvine, California, in the sale of Sierra del Oro Towne Centre, when Phillips Edison & Company was the buyer.

“We secured a private all-cash 1031 exchange buyer who had recently sold their property to a land developer,” said Fryman. “We negotiated an expedited due diligence and closing timeline to provide the seller with certainty of execution.”

Fryman added, “Prior to marketing the property for sale, we advised the seller to structure a new long-term lease with Ralphs to maximize value and align with private capital’s objective of having a strong, committed anchor at the center.”

In addition to Ralphs and Dollar Tree, tenants at Sierra del Oro Towne Centre include Anytime Fitness, Chase Bank, Jack in the Box, Domino’s Pizza, Wingstop, Green River Montessori, Kumon Math and Reading Center, Fantastic Sams, and PostalAnnex.

According to Fryman, 72% of the tenants have operated at the center since at least 2011, and 70% are national or regional brands.

“The sale of Sierra del Oro represented a unique opportunity to acquire an entire grocery-anchored shopping center, including the anchors, shop tenants, and pad building ground leases in an affluent market located in Southern California,” said Fryman. “Ralphs has operated at the shopping center since it was originally constructed in 1991 and had recently executed a new long-term lease, demonstrating their commitment to the location. Furthermore, Ralphs is the only traditional grocery store within a three-mile radius.”

Fryman noted that the average household income within a one-mile radius of the property exceeds $145,000, and there are 148,000 people within a five-mile radius. The property is conveniently situated less than one mile from the Serfas Club Drive exit and two miles from the Green River Road exit on the 91 Freeway, which carries 275,000 cars per day.

Ralphs’ parent company, Kroger (NYSE: KR; S&P: BBB investment grade), operates over 2,700 grocery stores nationwide and is the largest traditional grocery operator in the U.S. with more than $148 billion in annual revenue. Ralphs, a staple grocery store chain in Southern California, has served its communities since 1873, making it one of the oldest continuously operating grocery brands in the United States. Today, Ralphs has more than 180 locations throughout Southern California and is the market share leader in the region.

“Investor demand for grocery-anchored retail centers remains exceptionally strong, driven by the stability and daily traffic that grocers like Ralphs generate,” said Hanley. “Both private and institutional buyers continue to target these assets for their long-term income durability and resistance to e-commerce disruption. With consistent foot traffic, strong tenant fundamentals, and limited new supply in high-growth markets, grocery-anchored centers offer a compelling investment profile.”

Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of two stand-alone buildings occupied by a Chipotle Mexican Grill and the adjacent Starbucks Drive-Thru in Rancho Cucamonga, California. The sales price was $6.22 million.

Hanley Investment Group’s Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller, Chase Partners Ltd., based in Glendale, California. The buyer, a private investor based in Los Angeles, was represented by Shirley Kim at Epique Realty, also of Los Angeles.

The property involved a complete rehabilitation of the facility and the expansion of Starbucks by the developer, Chase Partners Ltd., a leading retail and industrial developer in Southern California since 1993. Chase is an active developer of Starbucks and Chipotle sites, as well as other name-brand retail developments, with a dozen projects currently underway. Michael Carter served as the project manager for Chase.

“We generated multiple qualified offers primarily from Southern California-based buyers and leveraged our extensive broker relationships to procure a repeat all-cash buyer, ensuring a smooth and timely closing by year-end,” said Asher.

Built in 2003, the two freestanding properties occupied by a 2,508-square-foot Chipotle Mexican Grill and a 4,000-square-foot Starbucks Drive-Thru sit on a 1.31-acre parcel located at 10811-10831 Foothill Boulevard, near the signalized intersection of Foothill Boulevard (U.S. Route 66 with over 32,000 cars per day) and Aspen Avenue.

Starbucks (NASDAQ: SBUX) recently signed a new 10-year extension, expanding into the adjacent 2,500-square-foot space for a total of 4,000 square feet, showing its continued long-term commitment to this location. The Rancho Cucamonga Starbucks is a top 15% location nationwide, based on customer traffic (Placer.ai). Starbucks is the largest coffee house chain globally, with approximately 40,199 stores in 84 countries, and Fortune ranked it as one of the “World’s Most Admired Companies” from 2009 to 2024.

Chipotle (NYSE: CMG) is ranked on the Fortune 500 and is recognized on Fortune’s Most Admired Companies 2024 list and Time Magazine’s Most Influential Companies. There are over 3,600 restaurants in the United States, Canada, the United Kingdom, France, Germany, and Kuwait and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe.

According to Asher, Chipotle has nine years remaining on its lease, having recently extended early for five years, demonstrating its ongoing investment in the site. The Rancho Cucamonga Chipotle is a top 25% location in California, based on customer traffic (Placer.ai).

Chipotle and Starbucks are located across from Terra Vista Town Center, one of Rancho Cucamonga’s most established and premier regional shopping centers. The 645,000-square-foot Terra Vista Town Center is ranked within the top 25% of power centers nationwide, based on customer traffic, according to Placer.ai. The center is anchored by Target, Hobby Lobby, and LA Fitness, along with other national tenants including Ross Dress for Less, Michaels, HomeGoods, Panera Bread, Wells Fargo, CVS, Bank of America, and Five Below. The property is ideally situated in the center of the city within minutes of the 10, 15, and 215 freeways. The property is located next to Rancho Cucamonga’s 44 million square feet of office and industrial space, which combined employs over 65,000 employees.

The population of Rancho Cucamonga grew 53.5% from 2010 to 2020. Within one mile of the property, the population experienced a 317.8% growth in population from 2010 to 2020. More than 276,000 residents with an average household income in excess of nearly $113,000 are within a five-mile radius.

Asher added, “It was one of our most sought-after listings in 2024, receiving significant interest and activity from both buyers and brokers. The combination of two corporate leases with two of the most recognizable national credit QSR tenants in the U.S., both with a 21-year operating history at the site, made it a highly desirable investment.”