Brand New Double Drive-Thru Starbucks Property in Chico, CA Sells For $3.4M

Chico, CA — Faris Lee Investments, a boutique retail advisory firm focus on investment sales through the United States, proudly announces the successful sale of a brand new double drive-thru, freestanding Starbucks property in Chico, CA. The property was sold for $3.4 Million, reflecting a cap rate of 5.25%.

Scott DeYoung, Senior Managing Director; Jeff Conover and Don MacLellan, Managing Principals; and Greg Lukosky, Director at Faris Lee Investments, represented the seller in this transaction. The buyer was a private 1031 investor based in California.

This brand new double drive-thru, freestanding Starbucks property is the closest Starbucks drive thru to Chico State University with over 14,000 students and 1,800 faculty/staff, providing a steady customer base. The subject property is on Mangrove Ave (20,000 VPD) which directly services the residents and the primary trade area of Chico, CA. This location benefits from the synergy created by the national retailers surrounding the site, including Safeway, Rite Aid, Big 5 Sporting Goods, Chipotle, McDonald’s, and Popeyes.

About Faris Lee Investments:

Faris Lee Investments is one of the leading retail investments firms in the US and is one of the original firms specializing in retail investment sales throughout the country. Faris Lee combines underwriting and market research that exceeds industry standards with a custom strategy to maximize values for their clients’ .The firm also serves as high level investment advisors in the areas of dispositions, acquisitions & recapitalizations as well as, distressed asset disposition, portfolio sales, and corporate sale-leaseback. For more information, visit www.farislee.com

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