William Tseng Acquires Retail Starbucks Café In Phoenix For $4,130,000 From Andrew Gharibian & Pooya Dayanim

The property involved in the transaction is located at 15615 South Desert Foothills Parkway in the Phoenix market. It is a retail asset that spans 4,586 square feet, sold for $4,130,000, translating to a price per square foot of $900. The property was formerly a bank building, fully remodeled in 2025, and converted into a single-tenant Starbucks café featuring a double drive-thru.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,130,000
• Buyer: William Tseng
• Seller: Andrew Gharibian & Pooya Dayanim
• Seller's Representative: Sean Cox, Bill Asher & Lee Csenar - Hanley Investment Group
• Due Diligence Period: 7 days
• Closing Period: 14 days
• Previous Sale Price: $1,850,000
• Seller's Acquisition Date: November 2023
• Offers Generated: Six from private investors and 1031 buyers
• Similar Portfolio: Three Starbucks properties in the Phoenix metropolitan area

The deal involved key representatives from Hanley Investment Group, who successfully navigated a competitive bidding environment to secure a qualified buyer. The seller's team is actively seeking additional single-tenant and multi-tenant value-add retail projects throughout Arizona and surrounding states.