Avison Young Brokers $4.7 Million Sale of Newly Built Single-Tenant Retail Property Occupied by Starbucks in Ontario, CAOctober 28, 2021
Los Angeles, CA – Avison Young announced today it has brokered the $4.7 million sale of a 2,430 square-foot (sf) single-tenant retail property occupied by Starbucks at 511 N Euclid Avenue in Ontario, CA.
Avison Young Principals Chris Maling and David Maling, who are based in the company’s downtown Los Angeles office, represented the buyer, Truman Johnson, Inc. The seller, a California-based private investor, was represented by JLL.
Built in 2021, the property is well-located on Euclid Avenue in a major retail corridor with traffic counts of more than 35,000 vehicles per day.
“Our buyer client was pleased to acquire this newly built Starbucks property within a prime Inland Empire retail corridor,” said Chris Maling. “This property offers a 10-year triple net lease with scheduled rental increases and minimal landlord responsibilities.”
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
Follow Avison Young
For more information:
- Chris Maling, Avison Young +1 213 618 3824
- David Maling, Avison Young +1 213 618 3825