![]() The new retail development is located across the street from Frank Wright Middle School with 1,034 students. In early February 2022, Asher and Lefko represented the seller and developer in the sale of a new 20-year absolute triple-net ground lease for a new construction McDonald’s built in 2022 on 1.05 acres at 810 North Imperial Avenue, adjacent to the USPS building. “We generated a high level of interest in the property due to the annual rent increases, government credit, and the fact it was a brand-new relocation store and expansion designed to serve the region better.” “We secured an all-cash 1031 exchange buyer who owned a portfolio of post office properties across the U.S.,” says Asher. The buyer, a private partnership from Indianapolis, Indiana, was self-represented. USPS has a new 10-year lease with 3% annual increases and two five-year options with annual increases. Built in 2021 on 1.49 acres, the 5,430-square-foot building is situated between McDonald’s and a soon-to-be-built Quick Quack Car Wash. In the second transaction, Hanley Investment Group’s Asher and Lefko arranged the sale of a single-tenant property occupied by the United States Postal Service at 820 North Imperial Avenue in Imperial. “Single-tenant Starbucks Drive-Thru investments continue to attract consistent demand from net-lease investors due to their typical strong fundamental locations, tenant credit, and drive-thru prototype, which generates more than 70% of their business via the drive-thru.” “We procured a repeat Starbucks investor through a broker relationship to help fulfill a 1031 exchange requirement for the buyer,” says Asher. The sale price was $2.88 million, representing a price per square foot of $1,378.65. The buyer, a private investor from Orange County, California, was self-represented. Imperial Avenue is the primary retail corridor in the Imperial Valley. ![]() The new 2,089-square-foot building is located at 802 North Imperial Avenue at the hard corner, signalized intersection of State Highway 86 (North Imperial Avenue) and 15th Street. In the first transaction, Hanley Investment Group’s Asher and Lefko arranged the sale of a single-tenant property occupied by a Starbucks Drive-Thru built in 2022 on 0.77 acres in the city of Imperial. Hanley Investment Group’s Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller and developer, 5th Street Development LLC, based in San Diego, California, in both transactions. The two buildings, which totaled 7,519 square feet and were leased by Starbucks Drive-Thru and the United States Postal Office, sold for a combined total of $5.81 million. Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced the sale of two new construction single-tenant net-leased retail investments to two different buyers as part of a break-up sale strategy at a new retail development in Southern California’s Imperial Valley.
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