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.