Two retail business properties in Imperial sold for total of $5.81 million

Hanley Investment Group arranged sales of Starbucks Drive-Thru and U.S. Postal Office in Imperial Valley

IMPERIAL, Calif. (KYMA, KECY) - Hanley Investment Group Real Estate Advisors announced the sale of two new construction retail investments to two different buyers as part of a break-up sale strategy at a new retail development in Imperial Valley.

The two buildings totaled 7,519 square feet and were leased by Starbucks Drive-Thru and the U.S. Postal Office.

Both were sold for a combined total of $5.81 million.

Hanley Investment Group said Vice Presidents Bill Asher and Jeff Lefko represented the seller and developer, 5th Street Development LLC in both transactions.

In the first transaction, the group arranged the sale of the property occupied by a Starbucks Drive-Thru that was built in 2022 and located at 802 North Imperial Avenue.

Hanley Investment Group said the business has a new 10-year lease and the buyer was a private investor from Orange County, California.

The sale price was $2.88 million and represented a price per square foot of $1,378.65.

In the second transaction, the group arranged the sale of the property occupied by the U.S. Postal Service (USPS) in the same area as the Starbucks Drive-Thru.

Hanley Investment Group said USPS has a new 10-year lease with three percent annual increases and two five-year options with annual increases.

The buyer was a private partnership from Indianapolis, Indiana.

Hanley Investment Group said the sale price was $2.93 million.

The properties benefit from its location on State Highway 86/Imperial Avenue as it is a major highway that connects Interstate 8 to San Diego and Interstate 10 to Los Angeles.

Hanley Investment Group said the properties serve Imperial Valley and Mexicali, Mexico and create a combined primary customer base of approximately 1.5 million people.