Calbay Development Sells Starbucks-Occupied Building in Fullerton for $6.2M


Starbucks signed a 20-year lease to occupy a newly constructed 3,000-square-foot restaurant building at 1101 S. Harbor Blvd. in Fullerton, Calif.

FULLERTON, CALIF. — Calbay Development has completed the disposition of a single-tenant restaurant building located at 1101 S. Harbor Blvd. in Fullerton. A Los Angeles-based high-net-worth buyer acquired the property for $6.2 million, or $2,067 per square foot.

Constructed in 2020, the 3,000-square-foot property has a fully entitled drive-thru. Starbucks Coffee occupies the building and recently signed a 20-year, absolute, triple-net ground lease with no termination rights for the asset.

Adam Friedlander of JLL Retail Capital Markets represented the seller in the deal.

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