July 22, 2016
Hanley Investment Group Real Estate Advisors completed the sale of a Starbucks-anchored multi-tenant pad building located at the Stater Bros. Plaza in Chino, CA. The $3.15-million sales price represents an all-time record low cap rate of 4.37% and a record high price per square foot of $808 for a multi-tenant retail building in San Bernardino County since 2006.
Built in 2015, the 3,900-square-foot building includes a drive-thru Starbucks along with one vacant unit at the time of the sale. The multi-tenant building is situated on .46 acres at 7055 Schaefer Ave.
Hanley Investment Group Real Estate Advisors’ Ed Hanley and Bill Asher represented the seller, Newport Beach, CA-based Euclid Pad II LLC. RE/MAX Premier Properties’ Michelle Chen represented the buyer, a private Southern California investor.
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