New Construction Starbucks/Pacific Dental Property Sells in Seattle Metro Area for $3.7M
Hanley Investment Group's Vice President Jeff Lefko and Executive Vice President Bill Asher represented the seller, an affiliate of Covenant Real Estate Group (CREG) of Henderson, Nevada. The buyer, an all-cash, local buyer from Kirkland, Washington, was represented by Scott Clements of Orion Commercial Partners in Seattle.
"Using our national client database, we generated more than 10 qualified offers in the first two weeks of formally marketing the property and negotiated a quick due-diligence period," said Lefko. "The investor response is evidence of the continued strong demand for high-performing, national credit tenants with newly minted, long-term triple-net leases in markets with dense, affluent demographics."
The new, 4,980-square-
Starbucks occupies 2,104 square feet and has a brand-new corporate-guaranteed lease. "The new Starbucks features the popular café and a drive-thru,"
The Pacific Dental Services-supported dental office occupies 2,876 square feet and also has a brand-new lease. Pacific Dental has 750 supported offices in 21 states and plans to add 95 offices by the end of 2019.
The two-tenant pad building is located at the signalized entrance to the WinCo Foods-anchored shopping center with 24,000 cars per day passing by and is strategically situated between both main entrances. According to Lefko, WinCo Foods-anchored shopping center has a mix of service-based, internet-resistant tenants that are positioned for long-term success.
For more information, visit hanleyinvestmentgroup.com
Jeff Lefko | Hanley Investment Group
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