Joe L. Dutra acquired the Starbucks @ The Forum at Gilbert Ranch property at 2336 S. Val Vista Drive, Gilbert, on July 3 for $2.6 million from an entity tracing to Joon S. Kim., according to …
You must be a member to read this story.
Join our family of readers for as little as $5 per month and support local, unbiased journalism.
Current print subscribers can create a free account by clicking here
Otherwise, follow the link below to join.
To Our Valued Readers –
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Joe L. Dutra acquired the Starbucks @ The Forum at Gilbert Ranch property at 2336 S. Val Vista Drive, Gilbert, on July 3 for $2.6 million from an entity tracing to Joon S. Kim., according to commercial real estate website vizzda.com.
There was no debt recorded with the sale. Per Offering Memorandum, the net operating income is $132,000, which results in a cap rate of 5.08% at this sale price.
The building is about 2,497 square feet of retail space in a single-story, single-tenant building built in 2017 on 0.88 acres.
Tenant “Starbucks” commenced a 15-year double-net lease on Sept. 29, 2017. The lease has three five-year options to renew.
