Press release
Hanley Investment Arranges $4.13 Million Sale of Newly Remodeled Single-Tenant Starbucks Cafe and Drive-Thru in Phoenix
Former Bank Building Converted to a Double Drive-Thru Starbucks Trades to Los Angeles-Based 1031 Exchange Buyer
Hanley's Senior Vice President Sean Cox and Executive Vice President Bill Asher, in association with Lee Csenar of Hanley Investment Real Estate Advisors, Inc., represented the seller, private investors affiliated with Pooya Dayanim and Andrew Gharibian, based in Los Angeles. The buyer, a private investor from Los Angeles County, was represented by Thomas Chou of ALTC Realty.
Hanley generated six offers from private investors and 1031 buyers, creating a highly competitive bidding environment for the newly converted asset. The team secured a qualified buyer with a portfolio of three Starbucks properties in the Phoenix metropolitan area, a profile that reflects strong familiarity with the brand and confidence in the store's longterm performance. The competitive process resulted in selecting a 1031 exchange buyer who completed a sevenday due diligence period and closed escrow in 14 days.
The property, located at 15615 South Desert Foothills Parkway, is a former bank building that was fully remodeled in 2025 and converted into a single-tenant Starbucks cafe with a double drive-thru. The 4,586-square-foot building, originally constructed in 2003, now features Starbucks' new strategic "Back to Starbucks" prototype with redesigned interiors, expanded seating and an improved ambiance that supports work, socialization and relaxation.
According to Hanley, the 2025 remodel delivered Starbucks' new "Back to Starbucks" prototype, which features cozier, expanded seating options and a more inviting, communityoriented cafe environment designed for work, socialization and relaxation.
The store operates under a new 10-year triple-net (NNN) corporate-guaranteed lease and sits on a large 1.25-acre parcel with a double drive-thru, a configuration that supports strong operational efficiency and high throughput. It is the only Starbucks drive-thru within a 4.5-mile radius and ranks as one of the top busiest locations in the district of approximately 30 stores, a performance level that reflects the strength of the site and the surrounding trade area.
The property is situated at the hard-corner, signalized intersection of East Chandler Boulevard and South Desert Foothills Parkway (42,850 CPD) in the Ahwatukee Foothills, one of Phoenix's most desirable residential communities. Ahwatukee Foothills was ranked #1 in 2025 Best Neighborhoods to Live in Phoenix by Niche.com and is characterized by high barriers to entry due to community association restrictions. The trade area features affluent demographics with an average household income of $206,000 within a 1mile radius, strong surrounding retail, and sustained demand for drivethru retail formats. The broader Phoenix metropolitan area, home to 5.2 million residents, remains one of the nation's fastest-growing major markets and a key driver of long-term retail investment activity.
About Hanley Investment Real Estate Advisors
Hanley Investment Real Estate Advisors is a real estate brokerage and advisory services company with a transaction track record exceeding $13 billion, specializing in the sale of grocery-anchored, anchored, multi-tenant and single-tenant retail properties nationwide. The firm's expertise, proven track record spanning more than 20 years, and dedication to putting clients' needs first set it apart in the industry. Hanley creates value by delivering exceptional results through property-specific marketing strategies, cutting-edge technology and local market knowledge. Hanley Investment's relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service, Hanley Investment has redefined the experience of selling retail investment properties. For more information, visit hanleyinvestment.com [https://hanleyinvestment.com/].
Media Contact
Company Name: Hanley Investment Real Estate Advisors
Contact Person: Lee Csenar, Senior Vice President
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=hanley-investment-arranges-413-million-sale-of-newly-remodeled-singletenant-starbucks-caf-and-drivethru-in-phoenix]
Phone: 949.585.7636
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: CA
Country: United States
Website: https://hanleyinvestmentgroup.com/
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