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| Coffee Bean and Tea Leaf Headquarters, 1877 North Riverside Avenue, Rialto, CA |
RIALTO, CA -- Hanley Investment Group
Real Estate Advisors, a nationally recognized real estate brokerage and
advisory firm specializing in retail property sales, announced the firm
completed the sale of a brand-new single-tenant retail property occupied by The
Coffee Bean & Tea Leaf at 1877 North Riverside Avenue in Rialto,
California.
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| Bill Asher |
Hanley Investment Group Executive Vice
President Bill Asher and Vice President Jeff Lefko represented
the seller, Fountainhead Development based in Newport Beach,
California.
Ash
Joshi of Capital Realty Solutions Inc. in San
Fernando, California, represented the buyer, a private investor based
in Chatsworth, California.
The new construction, freestanding,
1,710-square-foot The Coffee Bean & Tea Leaf, which opened on July 23rd,
has a drive-thru and is located on a 0.48-acre pad at the hard corner,
signalized intersection at Riverside Avenue and Easton Street/Highland Avenue,
where traffic counts are in excess of 62,000 cars per day.
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| Jeff Lefko |
The 210 Interstate freeway is one of the major east/west freeways connecting California’s San Gabriel Valley and Inland Empire.
“The initial 15-year lease term was a
very compelling attribute to the investment in obtaining sub-four percent cap
pricing and generating multiple additional offers within striking distance,”
said Asher.
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| Ash Joshi |
“The property benefits from high-identity freeway signage rights owned in perpetuity; one of only three retail tenants featured on the City of Rialto’s 95-foot pylon located along the 210 Interstate freeway, which is highly visible by daily eastbound and westbound traffic,” said Lefko.
“Average daily traffic count along the 210 freeway is approximately 112,000 cars per day. The property is also situated near Interstate 215. At the Ramona Expressway exit on Interstate 215 average daily traffic count is 145,000 cars per day.”
“Sharing a signalized intersection with
In-N-Out Burger (directly across the street) doesn’t hurt either,” added Asher.
“Coffee Bean will certainly benefit tremendously long-term from the regional
traffic In-N-Out Burger draws and speaks to the overall strength of the quality
of the location.”
Other nearby national credit tenants that drive sales traffic to the immediate area include Arco/AMPM, Chipotle, Jack in the Box, Jersey Mike’s Subs, Wingstop, 7-Eleven, Carl’s Jr., Del Taco, Rite Aid, Walgreens and Verizon.
The City of Rialto is the sixth largest city in San Bernardino County and the 11th largest in the Inland Empire with over 369,000 people within a five-mile radius of the property. There are one million people within 10 miles.
The Coffee Bean & Tea Leaf is the oldest and largest privately-held American coffee chain. Founded in 1962 with over 1,000 locations around the world and growing, the specialty coffee and tea retailer is known for providing and sourcing the finest ingredients and flavors from around the world.
Other nearby national credit tenants that drive sales traffic to the immediate area include Arco/AMPM, Chipotle, Jack in the Box, Jersey Mike’s Subs, Wingstop, 7-Eleven, Carl’s Jr., Del Taco, Rite Aid, Walgreens and Verizon.
The City of Rialto is the sixth largest city in San Bernardino County and the 11th largest in the Inland Empire with over 369,000 people within a five-mile radius of the property. There are one million people within 10 miles.
The Coffee Bean & Tea Leaf is the oldest and largest privately-held American coffee chain. Founded in 1962 with over 1,000 locations around the world and growing, the specialty coffee and tea retailer is known for providing and sourcing the finest ingredients and flavors from around the world.
For more information, please contact:
Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963
