Thursday, July 29, 2010

Los Angeles County Neighborhood Retail Center Sells for $16 Million













Neighborhood Shopping Center Sells for $16 Million in La Cañada, Calif.

IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors announced today that William B. Asher of Hanley Investment Group, along with Jim Barthe of Real Estate Portfolio Specialists of Pasadena, Calif., and Paul and Nathan Strauss of ASB Property Management, Inc. of Monrovia, Calif., represented the buyer in the purchase of a neighborhood shopping center in La Cañada, Calif., for a total consideration of $16,000,000.

The 42,093-square-foot shopping center, known as Foothill Promenade, is located at 475 Foothill Boulevard in La Cañada. Positioned at the signalized intersection of Foothill Boulevard and Gould Avenue, the property is situated on a 2.75-acre parcel. Tenants include Trader Joe's, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty. The property was built in 1995 and was 100 percent occupied at the time of sale. The seller was Dollinger Properties from Redwood City, Calif.

The buyer was a partnership of private individuals, which are seeking to acquire additional high quality shopping centers in Southern California, preferably on an all cash basis. The Foothill Promenade is the second major shopping center purchased by these individuals in the last ten months. In October 2009, they acquired the Tustin Courtyard Shopping Center in Orange County.

“It was a rare sale of a pride of ownership neighborhood shopping center in the greater San Gabriel Valley area and overall in today’s market,” said William B. Asher, managing director at Hanley Investment Group. Asher notes the property was never on the market and the buyer assumed an existing loan with the purchase.

“The first half of 2010 has seen a lack of supply of quality neighborhood shopping centers marketed for sale and actually transacting in southern California,” said Asher. “This combined with an increased demand from investors has created a very competitive environment so far this year. In the past couple of months, the market has started to see an increase in neighborhood shopping centers sold and marketed for sale in southern California. Watch for this trend to continue and pick up momentum moving into the fourth quarter.”

About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a two billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.

Thursday, July 15, 2010

Northern California's First Home for Developmentally Disabled Seniors Designed by KTGY to Open















HomeAid Dedicates Northern California's First Home for Developmentally Disabled Seniors
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KTGY-designed Village at Walpert Center to include five six-bedroom homes upon completion


HAYWARD, CALIF. - HomeAid Northern California will dedicate Phase 1 of the Village at Walpert Center in Hayward on Friday, July 16th, at 12:00 noon. This is HomeAid's first home for developmentally disabled seniors, and ninth project. Upon completion in late summer 2010, the development will include five identical six-bedroom homes. Phase I, which is now ready for occupancy, consists of two 3,410-square-foot homes and is the culmination of four years of hard work by Builder Captains Pulte Group, Ponderosa Homes, Meritage Homes, and William Lyon Homes; with the assistance of Emerald Glen, The Walpert Center and many subcontractors, suppliers and consultants. Architecture and planning firm, KTGY Group, Inc., designed these homes with careful thought into the design that would not only be great quality but accommodate the special needs and abilities of the residents that would live there.

"We wanted the residents to feel comfortable, like the homes they might have grown up in," said KTGY's Jill Williams, AIA and Principal. "We incorporated a large living space for multiple activities, dining space for all the residents to congregate and a large kitchen with an island to allow multiple preparation areas and good flow.

"The parents of the future residents that we worked with during the design phase offered invaluable insight to what would be necessary as well as what they just wished for in a quality residence. Their struggle to find a place to call home for their adult children is what inspired the team to dedicate themselves to this effort. Individual bedrooms, shared baths, and universal design techniques were all integrated and carefully detailed," Williams added.

"Additionally, it was important that the home design was simple and could be repeated when you are working with volunteers and contributions. The City wanted the highest quality and best design that the team could create and that is what the residents will now have," stated Williams.

Roughly 50 percent of the cost of Village at Walpert Center Phase 1 came by way of donations. HEDCO Foundation donated $100,000 towards the foundations of the five homes.

“We have been very impressed by the enthusiasm, generosity and follow-through of the builder captains and their trade partners who adopted this project,” said Julie O’Connor, Executive Director of HomeAid Northern California. “They stayed the course through permit delays, weather issues, and the many challenges that come with coordinating dozens of separate companies to accomplish one goal.”

The Village at Walpert Center is the first project of its kind in Alameda County and the type of project HomeAid Northern California is proud to show as a model for future collaborations. "I think we were particularly interested because this project dealt with a segment of the population that is both overlooked and underserved, Developmentally Disabled Seniors—or better put, 'Adult Orphans,'" said Jeff Scofield, Area Director of Purchasing for Pulte Group of Pleasanton, California. “For the first time in history, the developmentally disabled are outliving their parents."

Co-builder Captain Ralph Walker of Ponderosa Homes stated, “Getting involved with HomeAid is so fulfilling. It really becomes more about personal fulfillment than what you might gain otherwise."

Walker added, "The trade partners who worked with us on the Village at Walpert Center have been the same ones who step up time and time again."
In the 10 years since its inception, HomeAid Northern California has built and furnished nine shelters, totalling 504 beds. In partnership with the organization’s Care Providers, HomeAid Northern California has had the resources to change more than 6,600 lives. Current projects under development in northern California are Mission Solano Bridge to Life Center in Fairfield, Shepherd’s Gate Life Center in Livermore and Downtown Street Team in San Jose.

To donate cash, time or materials, or for more information regarding HomeAid programs, shelters and services, contact Julie O'Connor of HomeAid Northern California at (925) 906-9139, joconnor@homeaidnc.org
or visit www.homeaidnc.org.

About HomeAid Northern California
HomeAid Northern California is the 8th chapter of a national non-profit organization with the mission to build dignified housing where homeless families and individuals can rebuild their lives. Founded in 1999 by the Home Builders Association of Northern California, HomeAid acts as the housing developer and liaison between service providers, community volunteers, builders and specialty contractors. To date the organization has completed 10 housing developments that serve victims of domestic violence, pregnant homeless women, abused and abandoned children, homeless adults, homeless families and wounded veterans. www.homeaidnc.org
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About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, and in Denver. See www.ktgy.com
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KTGY Group Honored with Gold Nugget Award











KTGY Group Honored with Gold Nugget Award for Habitat for Humanity Home Designs
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Architect receives “Best of the West” 2010 Building Industry Community Spirit Award for design work for Yorba Linda Homes


SANTA ANA, CALIF. - KTGY Group, Inc., Irvine, Calif., was honored with a Gold Nugget award from the Pacific Coast Builders Conference (PCBC®) for design work on three new Craftsman-style Habitat for Humanity homes recently completed in Yorba Linda.

KTGY received the Building Industry Community Spirit Award's "Grand Award," which recognizes various philanthropic efforts made by the building community on behalf of the less fortunate.

“Congratulations to KTGY Group for winning a 2010 Gold Nugget for their design work on our three new homes in Yorba Linda,” said Mark Korando, senior vice president, Habitat for Humanity of Orange County. “With these home designs, KTGY has proven that simple, decent, affordable homes can also be an attractive addition to any neighborhood.”

"The sustainable design maximizes available square footage on a small infill site to create attractive, very livable, comfortable homes that are affordable for working families and in harmony with the surrounding market rate neighborhood,” said KTGY's Jill Williams, AIA and principal. “The project uses Habitat for Humanity's new 'Mixed-Income Model,' which includes homes for both very low-income and moderate-income families within the same development."

The award was presented to KTGY at the 47th Annual PCBC Conference on June 10, 2010, at the Moscone Convention Center in San Francisco.

For more information, please contact Gladys Hernandez at 714-434-6200 ext. 229 or gladys@habitatoc.org.

About Habitat for Humanity of Orange County
Habitat for Humanity of Orange County, headquartered in Santa Ana, Calif., is dedicated to ending substandard housing and building strong communities in Orange County. Habitat uses non-government donations of funding, materials, professional services and volunteer labor to build simple, decent homes which are sold to qualified low-income families for a 1% down payment, closing costs, and a long-term mortgage. Mortgage payments are recycled to build more Habitat homes. Habitat families contribute 500 hours of “sweat equity” to the program by building their own home, helping another Habitat family build a home, or working in some other area of the Habitat organization. Habitat for Humanity families and volunteers have built 146 homes in Orange County since 1988, and are currently building 18 homes in San Juan Capistrano and five homes in Fullerton. For more information, please visit www.habitatoc.org.

Habitat for Humanity of Orange County is an affiliate of Habitat for Humanity International, an ecumenical Christian housing ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat International has built more than 350,000 houses worldwide, providing simple, decent and affordable shelter for more than 1.75 million people. Habitat for Humanity International is currently the 8th largest homebuilder in the United States, according to Builder OnLine magazine.

About the Yorba Linda homes
Habitat for Humanity of Orange County completed a three-home development on a vacant lot at the northwest corner of Park Ave and Yorba Linda Boulevard in the City of Yorba Linda. This development introduced Habitat OC’s new “mixed income model.” Using this model, homes were marketed to families with incomes within the following two levels:
• Two homes marketed to buyers earning up to 120% of the area median income ($100,900 for a family of four), and
• One home marketed to a local family earning 50% of the area median income ($46,500 for a family of four).

The size and design of the homes are consistent with the surrounding Yorba Linda community. Homes are two-stories with three bedrooms and either 1-1/2 or 2-1/2 baths. All include attached two-car garages, front porches and stone veneer accents to ensure these homes are attractive and appropriate for the City of Yorba Linda.

For more information about Habitat for Humanity of Orange County, please call (714) 434-6200 extension 229 or visit our Web site at www.habitatoc.org.

About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, and in Denver. See www.ktgy.com.

Monday, July 12, 2010

Hanley Investment Group Represents Buyer in Sale of Single-Tenant NNN Del Taco














Hanley Investment Group Sells Single-Tenant NNN Del Taco in Inland Empire for $1,460,000
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Demand for Well Located Single-Tenant Fast-Food Restaurants Remains High


IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that Edward B. Hanley represented the seller in the sale of the fee-simple ownership in the land leased to a single-tenant NNN Del Taco in Rancho Cucamonga, Calif. The purchase price was $1,460,000.

Located in San Bernardino County at 6341 Haven Avenue in Rancho Cucamonga, Del Taco occupies a single-tenant pad building situated within Haven Village, a dominant neighborhood shopping center in the area anchored by Vons, Trader Joe's, McDonald’s, Edward Jones, Subway and Yogurberry. Built in 2004, the freestanding 2,200-square-foot building is situated on a 0.41-acre parcel of land and was 100% occupied at the time of sale.

“Through Hanley Investment Group’s strategic marketing efforts, over ten qualified buyers submitted offers to purchase the property,” said Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors. “It clearly shows the high demand for well located single-tenant fast-food investments.”

Hanley notes, “Even though the demand for single-tenant assets like this Del Taco remains very healthy, approximately half of the offers generated were unable to secure the financing they were looking for due to more strict underwriting guidelines from lenders offering financing in today’s market.”

The buyer, Sylvia W. Augustine Family Trust of San Diego, Calif., was represented by Brian Somoza of Marcus & Millichap in Irvine, Calif. The seller was Cadence Capital Investments, LLC of Greenwood Village, Colo.

About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment brokerage firm with a three billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.