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18663 Bear Valley Road

Beta Agency Orchestrates $4.15M Sale Of Newly Built Panera Bread In Hesperia
SOLDRetail

Beta Agency Orchestrates $4.15M Sale Of Newly Built Panera Bread In Hesperia

18663 Bear Valley Road

$4,150,000

Building Size

Asset Type

Retail

Closing

Jan 17, 2024

AI

A newly built Panera Bread in Hesperia has been sold for $4,150,000 in an all-cash transaction orchestrated by Beta Agency. The property is strategically located at 18663 Bear Valley Road, at the entrance to Mojave Plaza. The plaza is home to popular anchor tenants including Aldi, Auto Zone, and Planet Fitness. The Panera Bread property comes with a 15-year lease agreement, making it an attractive investment opportunity for the buyer. With a cap rate of 5.05%, this transaction was part of a 1031 exchange.

Summary of transaction details

Beta Agency, represented by brokers Adam Friedlander and Richard Rizika, facilitated the successful sale of the Panera Bread property. This deal highlights the expertise and negotiation skills of the Beta Agency team in securing a high-value transaction in the retail sector. With the property's prime location and long-term lease agreement, the buyer can expect a steady income stream and potential future appreciation.

Players

Adam Friedlander

Colliers

Broker

$63.6M

vol

11 deals

Broker

Hesperia Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.82%

Cash-on-Cash

-1.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93