The Muller Company Completes $13.5 Million Refinance and Signs 84,864 SF of Leases and Renewals

The Muller Company Completes $13.5 Million Refinance of San Diego Office Building and Signs 84,864 SF of Leases and Renewals Valued at $16.9 Million

LAGUNA HILLS, CALIF. – The Muller Company, a full service real estate company specializing in management, investment and development of commercial real estate in the western United States, announced today that the firm has just completed a $13.5 million refinance of Pinnacle Executive Centre, a 110,110-square-foot Class A office building located in San Diego County, and signed 11 leases and renewals totaling 84,864 square feet and valued at approximately $16.9 million. Tom Mattinson of Quadrant Real Estate Advisors of Alpharetta, Georgia handled the refinance.

Located at 10920 Via Frontera in San Diego, Calif., Pinnacle Executive Centre was purchased by The Muller Company, with their financial partner, in May 2007, and is a five-story, Class A suburban office building built of steel and concrete with a stone and glass exterior.

The Muller Company’s new leases and lease renewals bring Pinnacle Executive Centre's current occupancy level percent to 76 percent. The two most significant leases that were recently signed were with On Ramp Wireless and The State of California. On Ramp Wireless, an existing 12,100-square-foot tenant, signed a lease for an additional 7,000 square feet and added six months to their current lease term for a total lease value of $2.2 million. The State of California, Department of General Services signed a nine-year lease for 23,382 square feet valued at nearly $8.4 million.

Pinnacle Executive Centre’s Property Manager Kim Sabre said, “The Muller Company and our leasing team from Colliers International created a very catchy and effective leasing campaign called “AS SIMPLE AS 1-2-3,” which offers a creative rent schedule of $1.00/SF in year 1, $2/SF in year 2 and $3/SF in year 3. This rent schedule also includes a broker bonus of $1.23/SF. We certainly attribute our success in bringing the building to 76 percent leased in such a short period of time to a dedicated team that includes The Muller Company as an owner and our creative leasing team, which includes Gary Williams from Colliers International and Jay Alexander from Jones Lang LaSalle (formerly with Colliers International).

"We all know the challenges of today’s economy, so our focus has been to not focus on the challenges, but instead find creative ways to get around them and get the attention of prospective tenants. The Muller Company understands the challenges that all business owners are faced with today and we continue to put every effort into finding ways to make deals that meet each party’s objectives,” Sabre added.

About The Muller Company
The Muller Company has over 30 years of experience in developing, acquiring and managing a diverse portfolio of over 20 million square feet of office, industrial and retail real estate throughout the western United States, with nearly 11 million square feet currently under management in the California and Phoenix markets. Over the years, The Muller Company has partnered with institutional owners such as GE Capital Real Estate, Capmark, Rockwood Capital, BlackRock, ING Realty and Metlife. Empowered by an entrepreneurial spirit and guided by an owner’s perspective, The Muller Company excels at mining the long-term value from every asset that it manages by adding value, either through leasing, capital improvements, refinancing, operational audits and repositioning. For more information, contact the Director of Business Development, Lori Ann Haigh at 949.460.5380 or visit www.themullercompany.com.

Hanley Investment Group Selling Three Neighborhood Shopping Centers Totaling $112 Million and Closes Seven Shopping Center Transactions in 60 Days

Hanley Investment Group Selling Three Grocery-Anchored Neighborhood Shopping Centers Totaling $112 Million
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Closes Seven Shopping Center Transactions Valued at $40 Million in 60 Days

IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors announced today that in the last two months, Hanley Investment Group has sold seven shopping centers totaling over $40 million and more than 250,000 square feet, and is now marketing for sale three Southern California grocery-anchored neighborhood shopping centers totaling $112 million.

According to Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors, the retail investment marketplace in Southern California has seen a flurry of activity in the past several months causing some excitement in what has otherwise been a very quiet year. "In addition to a few high profile bank-owned properties, we have also seen more equity sellers begin to come to the market with institutional quality shopping centers," Hanley reported. "Although the market fundamentals for retail properties still have some time left to completely recover, look for retail investment sales activity to increase as investors begin to tire of waiting for the avalanche of distressed opportunities that have failed to materialize."

Additionally, Hanley stated that his firm recently negotiated the following shopping center sales in the last 60 days: Grand Covina Plaza in Covina, Calif. (112,200 sq. ft.); Trussville Marketplace in Trussville, Ala. (67,325 sq. ft.); Foothill Promenade in La Cañada, Calif. (42,093 sq. ft.); Rowland Plaza, Covina, Calif. (17,553 sq. ft.); Yorba Linda Plaza, Yorba Linda, Calif. (7,345 sq. ft.); Single-Tenant Red Robin in Apple Valley, Calif. (5,532 sq. ft.); and Single-Tenant Del Taco in Rancho Cucamonga, Calif. (2,200 sq. ft.).

Moorpark Marketplace, a 336,055-square-foot shopping center located at 800-888 New Los Angeles Avenue in Moorpark, is being marketed for sale for $43 million. Built in 2003, Moorpark Marketplace is strategically located along New Los Angeles Avenue at the intersection of the Moorpark (23) and Ronald Reagan (118) freeways, which connects Simi Valley to communities throughout the greater Los Angeles area. the shopping center is situated on 18.60 acres and is currently 97 percent occupied. Approximately 95 percent of the offering square footage is leased to national credit tenants including Kohl’s, Smart & Final Extra, TJ Maxx, Michaels, Famous Footwear, Baja Fresh, Denny’s, Del Taco, GNC, It’s A Grind, Jamba Juice, Panda Express and Verizon Wireless.

Gateway Village, a 96,959-square-foot shopping center located at 3560-3670 Grand Avenue in Chino Hills, is being marketed for sale for $37.5 million. Situated directly adjacent to the Chino Valley (71) Freeway at the Grand Avenue exit, Gateway Village is situated on 13.86 acres and is currently 91 percent occupied. The eight-building property consisted of three phases. Phase I and II were built in 2003, while Phase III was built in 2006. Approximately 85 percent of the total property’s square footage consists of national and regional credit tenants, which includes Henry’s Market (Wild Oats Market Inc.), Baja Fresh, Bank of America, Biola University, Chevron, Chick-Fil-A, Chili’s, Coffee Bean & Tea Leaf, Edward Jones, Enterprise Rent-a-Car, Great Clips, Jamba Juice, Liberty Mutual Insurance, Lindora, Pacific Dental, Pizza Hut, See’s Candy and T-Mobile.

Tesoro Village, a 74,415-square-foot shopping center located at 23820-23892 West Copper Hill Drive in Valencia, is being marketed for sale for $31.5 million. Located in the master-planned community of Valencia in the city of Santa Clarita, Tesoro Village is situated on 7.50 acres. The property is 97 percent occupied and was built in 2005. Approximately 87 percent of the total property’s square footage is leased to national credit tenants that include Albertsons, Bank of America, Great Clips, H&R Block, Pick Up Sticks, RedBrick Pizza, Starbucks Coffee and The UPS Store.

"We have received a favorable response from the investment marketplace so far and anticipate finding a buyer that is not only focused on return but also on owning irreplaceable real estate," said Hanley. "Rarely does the opportunity present itself to purchase three such high quality shopping centers in Southern California."

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 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.

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.

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.

Hanley Investment Group Sells Single-Tenant NNN Wells Fargo for $3,245,000
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All Cash, 1031 Exchange Buyer

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 and William B. Asher represented the seller in the sale of a single-tenant NNN Wells Fargo in Menifee, Calif. The purchase price was $3,245,000.

Located in Riverside County at 30186 Haun Road in Menifee, the single-tenant Wells Fargo is a pad building situated within the Countryside Marketplace, the dominant power center in the region anchored by Super Target, Lowe’s, Kohl’s, Best Buy, Staples and Michaels. Other notable tenants include Tilly’s, Old Navy, Petco, BevMo, In-N-Out, Red Robin, Chipotle and Starbucks. Built in 2008, Wells Fargo occupies a 5,250-square-foot, free-standing building situated on a 0.55-acre parcel of land.

“The demand for single-tenant NNN investments continues to be extremely strong,” said Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors. “There is a lack of quality single-tenant NNN properties on the market right now in southern California. When they do come to market, they are transacting quickly with all cash buyers.”

“The Wells Fargo benefits from an outstanding location within a power center that features a high quality mix of credit tenants,” said William B. Asher, managing director at Hanley Investment Group. “Overall, single-tenant bank buildings with the credit of a Wells Fargo or similar to it are receiving the most activity in the marketplace and viewed by the investment community as one of the most stable and secure single-tenant investments.”

Asher notes the buyer paid cash and fulfilled a 1031 exchange with the purchase.

The buyer, Lew 1st – Crenshaw Properties, LLC of Glendale, Calif., was represented by James Kwon of Coldwell Banker Best Realty in Fullerton, Calif. The seller was Donahue Schriber Realty Group of Costa Mesa, Calif.

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 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.

Hanley Investment Group Sells 99 Cents Only Anchored Shopping Center in Las Vegas, NV
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100% Occupied, 4 Tenant Investment Sells for $4,827,000

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 Eric P. Wohl and Edward B. Hanley of Hanley Investment Group represented the buyer and seller in the sale of a four-tenant shopping center in Las Vegas, Nevada. The purchase price was $4,827,000, representing $177 per square foot.

The 27,300-square-foot shopping center, known as Family Place, is located at 1125-1175 East Charleston Boulevard in Las Vegas. Positioned at the signalized intersection of Charleston Boulevard and Maryland Parkway, the property is situated on a 1.97-acre parcel. Tenants include 99 Cents Only, Burger King (ground lease), LaunderLand and Moneytree. The property was built in 2003 and was 100 percent occupied at the time of sale.

“99 Cents Only was a logical buyer for the property due to the fact that their store performs very well at this location,” said Eric P. Wohl, a vice president at Hanley Investment Group. “The transaction was a success for both parties. 99 Cents Only acquired an investment they occupied in a location and area that fit the company’s goals and objectives long term, while the seller disposed of a non-core asset within their portfolio.”

“The market for single-tenant and multi-tenant retail properties priced under $5 million is very active right now,” adds Edward B. Hanley, president of Hanley Investment Group. “With a lack of product currently on the market, demand continues to increase from buyers seeking retail investment properties across the western United States.”

The buyer was 99 Cents Only, Inc. based in Commerce, Calif. The seller was Family Place Station, LLC of Salt Lake City, Utah.

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 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.

Hanley Investment Group Hires Patrick Kent as Senior Vice President
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Kent’s 20 years of Industry Experience and Transaction Expertise are Key Assets to the Continued Growth of HIG

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 industry veteran Patrick G. Kent has joined the company as a senior vice president. Kent most recently served as a director at Faris Lee Investments of Irvine, Calif., where he advised clients on the acquisition and disposition of retail investment properties.

Kent has more than 20 years of industry experience and has closed countless investment sales transactions with total sales in excess of over $500 million dollars. Kent has achieved incredible success exclusively representing individual investors, developers, lending institutions, and 1031 exchange buyers and sellers. Kent continues to maintain very strong relationships in the business by utilizing his commercial real estate financing background combined with his retail investment sales expertise.

“I am excited about the opportunity to work at Hanley Investment Group, providing disposition and acquisition advisory services to clients,” said Patrick Kent, senior vice president at Hanley Investment Group. “There is and will continue to be outstanding retail investment opportunities to work on with both buyers and sellers in 2010 as well as long-term.”

“Pat is a great addition to our company and we look forward to his immediate impact in helping our clients achieve their investment goals and objectives,” said Edward B. Hanley, president of Hanley Investment Group.

“2009 was a challenging year in the commercial real estate industry,” added Hanley. “Our company managed to overcome numerous obstacles on many transactions to have a successful year given the circumstances of the marketplace. We are optimistic about this year and look forward to building continued momentum from recent closings to have a successful 2010. The addition of Patrick Kent will certainly build on our previous successes over the years and add to an even brighter future.”

Kent says that he joined Hanley Investment Group because of its unique corporate culture. “Hanley Investment Group has a hard working, open and shared-environment, and they are loyal to each other and their clients,” Kent stated. “I know that I will grow and prosper in this environment and very much look forward to utilizing my leadership skills and retail investment expertise to achieve our clients’ goals and objectives.”

“We have a very different company culture that is rarely found in the brokerage industry,” said Hanley. “Everyone in the company works together for a common goal – to provide our clients with the very best service and consistently exceed their expectations. It is extremely gratifying to know that Pat selected Hanley Investment Group after careful thought and consideration.”

Kent is a graduate of Fort Lewis College with a Bachelor of Science Degree in Finance with an emphasis in Real Estate, and is an active member of the International Council of Shopping Centers.

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 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.

Investec Announces Acquisition of $21 Million Shopping Center The Plaza at Sunbow in San Diego
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Investec Continues to Seek Grocery Anchored Centers in California

SANTA BARBARA, CALIF. – Investec, specializing in the acquisition, development, management and leasing of retail properties in California, is pleased to announce its newest acquisition, The Plaza at Sunbow in San Diego, California. The 100,000-square-foot shopping center, which was purchased for approximately $21 million, is anchored by Ralphs and CVS, along with a host of national retailers including Starbucks, McDonald’s, KFC and T-Mobile. The transaction was sourced by Investec as an off-market acquisition opportunity from a private investor.

The Plaza at Sunbow was developed in 2002 by Kitchell Development in the suburbs of San Diego and has been the dominant neighborhood shopping center in its trade area. The center, which is 100 percent occupied, is situated on 11 acres at the northeast corner of Medical Center Drive and Palomar Street.

"We are always pleased when we can acquire quality assets like Sunbow, which provide us a quality center with a high performing grocer and pharmacy in strong in-fill markets," said Grant Harris, Investec's Director of Acquisitions. "Sunbow has performed very well since it was built, and we are confident it will continue to thrive with the quality and mix of tenants currently in place."

Harris said the addition of Sunbow brings Investec's retail portfolio to nearly 2,000,000 square feet of retail space in California, valued at over $620 million. Investec represented itself in the transaction, while the seller was advised by Mark Lucescu of Lucescu Realty.

According to Kenneth Slaught, President of Investec, "Contrary to the general gloom about retail real estate, not all retail real estate is the same. Much of the adverse retail press has been focused on discretionary retail or the woes affecting large niche chains. In contrast, all of our existing grocery anchor tenants have shown sales increases averaging 2.9 percent over the past 12 months. With the grocery and drug stores typically accounting for approximately 60 percent of the leasable area of our centers, we are confident that our gross sales increases will continue at all of our shopping centers."

Traffic and sales are increasing at Investec's necessity-based shopping centers as consumers return to basics by eating at home more often and by searching Investec’s discount retailers for bargains. "Knowing this type of real estate in California, particularly Coastal California, is performing well during this severe downturn has us excited about the future," Slaught stated. "We plan to continue buying the same type of properties in Coastal California, but during the next few years, we are going to have a once-in-a-generation opportunity to buy this exclusive asset class at below replacement cost."

In October 2009, Investec completed the development of Gene Autry Plaza, a new $17.5 million 60,000-square-foot shopping center in Palm Springs, Calif. and celebrated the grand opening of the first ground-up Smart & Final Extra! store in California. The center also includes Staples and 11,500 square feet of shop space.

For more information about Investec's acquisition criteria, please contact Grant Harris at 805-962-8989 x343 or grant@investecre.com.

ABOUT INVESTEC
Since its inception in 1983, Investec has handled more than one billion dollars in real estate transactions. Having thrived in one of the nation's most competitive real estate markets for more than 25 years, Investec remains ideally positioned for continued growth in this dynamic and challenging industry during turbulent economic times. Investec's current portfolio includes more than 2.5 million square feet of commercial properties under management in California including shopping centers, office buildings and self-storage facilities. Investec's acquisition and development strategy is primarily focused on necessity-based, recession-resistant market/drug anchored neighborhood shopping centers. For more information, call 805.962.8989 or visit www.investecre.com.