Atman Kadakia Of Greens Group Sells Starbucks In Riverside For $2.9M With Hanley Investment Group

A retail asset located at 2050 Alessandro Boulevard in Riverside was sold for $2,900,000. The property spans 928 square feet and sits on a 0.96-acre lot. It is currently leased to Starbucks under a 10-year NNN lease with rent adjustments every five years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,900,000
• Square Footage: 928
• Price Per Square Foot: $3,125
• Seller: Atman Kadakia - Greens Group
• Buyer’s Representative: Sam Olmstead - Voit Real Estate Services
• Seller’s Representatives: CJ Kiehler & Eric Wohl - Hanley Investment Group
• Market: Riverside
• Lease Type: NNN
• Lease Term: 10 years
• Rent Bumps: Every five years

Hanley Investment Group facilitated the transaction, representing seller Atman Kadakia of Greens Group. Sam Olmstead from Voit Real Estate Services represented the buyer engaged in a 1031 exchange. The deal highlights the collaboration between multiple brokerage professionals in a successful retail property transaction.