LA Icon LLC Sells Retail Property Leased To Starbucks In Pomona For $4.6M

A retail property located at 2302 North Garey Avenue in Pomona has been sold for $4,600,000. The asset spans 1,650 square feet and is leased to Starbucks under a 15-year, triple-net corporate lease that includes 10% rent increases every five years. The property, built in 1977, has been renovated into Starbucks’ latest prototype.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,600,000
• Square Footage: 1,650
• Address: 2302 North Garey Avenue
• Market: Pomona
• Seller: LA Icon LLC
• Buyer's Representative: Brad Freeman - Freeman & Associates
• Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group

Hanley Investment Group was responsible for arranging the sale of the property, which involved a private investor from Los Angeles acquiring the asset from LA Icon LLC.