Hanley Investment Group Sells Newly Built Starbucks In Santa Barbara For $3.7M

A retail asset located at 402 North Milpas Street in the Santa Barbara market has been sold for $3,700,000. The property includes a newly built Starbucks with a total square footage of 2,149, which positions it at a price per square foot of $1,722.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,700,000
• Square Footage: 2,149
• Price Per Square Foot: $1,722
• Address: 402 North Milpas Street
• Market: Santa Barbara
• Brokers: Sean Cox & Bill Asher - Hanley Investment Group

The transaction was facilitated by Hanley Investment Group, with Sean Cox and Bill Asher representing the Los Angeles-based developer. The buyer, a San Francisco-based 1031 exchange participant, represented themselves in the deal.