Hodgdon Group Represents Ashley Furniture in Purchase of Former Circuit City Building in Hawthorne

COLTON, CALIF. – Inland Empire-based Hodgdon Group Realty Inc. announced today that Aaron Hodgdon represented Ashley Furniture Industries, Inc. in the acquisition of a former Circuit City building in Hawthorne, California. The Hodgdon companies have been working with Ashley for a decade on various real estate and construction projects. Scott Kaplan, Senior Vice President with CB Richard Ellis in Anaheim, Calif., assisted Hodgdon with the sale transaction. Richard Rizika, Executive Vice President with CB Richard Ellis in El Segundo, Calif., represented the seller, WhiteFire Capital, LLC of New York, NY and the Tabani Group, Inc. of Dallas, Texas. The purchase price could not be disclosed.

Located in the South Bay area of Los Angeles County at 14600 Ocean Gate Avenue in Hawthorne, the 33,952-square-foot retail building faces the 405 Freeway, and is just off of Rosecrans Avenue, a major thoroughfare and freeway off ramp.

“Although the real estate market is still challenging, it has provided a great opportunity for Ashley, the No. 1 retailer and manufacturer of furniture in North America, to acquire vacant big box space such as this former Circuit City building and transform them into great showrooms,” said Aaron Hodgdon, President of Hodgdon Group Realty Inc. “We are currently negotiating on several new locations in Southern California and are continuing to look for more value-add opportunities to buy or lease.”

The Hodgdon Group represents Ashley Furniture Industries on the west coast and recently negotiated the following transactions on behalf of Ashley: the purchase of 439,000 square feet of industrial space in Colton, Calif., one of the largest user‐sale transactions in Southern California in 2009; the purchase of a former Wickes Furniture in Victorville; and the lease of 42,000-square-feet for a HomeStore in Palmdale, Calif. As part of its brokerage service, the Hodgdon Group performs complete due diligence review and coordination on behalf of its clients for the property acquisition.

The Hodgdon Group is a full-service real estate brokerage, development and construction management company for all of types of real estate projects. For more information about the Hodgdon Group, please call Aaron Hodgdon at 909.783.3020.

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.

Coreland Companies Negotiates Leases with Planet Fitness and Phoenix Group Information Systems
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Retail and Office Leases Valued at More than $3 Million

TUSTIN, CALIF. – Coreland Companies of Tustin, Calif., one of the largest private real estate service companies based in California, announced that its leasing / sales division has negotiated two leases in Southern California for a total value of more than $3 million.

In the City of Anaheim, Coreland negotiated a 20,362-square-foot, 10-year retail lease with Planet Fitness, a franchise-driven health club, at Euclid Shopping Center, located at the southeast corner of Euclid Street and Katella Avenue at 1620 W. Katella Avenue. The lease transaction, which is valued at approximately $2.0 million, brings the 206,100-square-foot community center to 100 percent occupied. Planet Fitness, which is expected to open in June 2010, will join anchors Food 4 Less, Big Lots and CVS/pharmacy. As the exclusive leasing agent for Euclid Shopping Center, Matt Hammond of Coreland Companies represented the landlord, Euclid Shopping Center, LLC, a private family trust located in San Diego. Garrett Colburn and Steve McClurkin of Grubb & Ellis in Newport Beach represented the tenant.

"There are still some very active retailers and categories doing deals in Southern California, and fitness is one of them," notes Hammond. "And this is one of a handful of fitness deals we are currently working on."

In addition, Coreland negotiated a 7,193-square-foot, 72-month lease with Phoenix Group Information Systems, a California Corporation, at the Main Street Town Center, a 215,000-square-foot Class A office building located at 2677 Main Street in Santa Ana. The lease is valued at over $1.0 million. The Phoenix Group, which will join Aetna and Morgan Stanley as tenants, will take possession of the office space in April 2010. As the exclusive leasing agent for the Main Street Town Center, David Girty and Steven Hogberg of Coreland Companies represented the landlord, The Muller Company of Laguna Hills, Calif., a full service real estate management company specializing in the management, investment and development of commercial real estate in the western United States. Marshal Vogt and George Thompson of Lee & Associates of Orange represented the Phoenix Group.

"The Phoenix Group is a 20+ year-old company with over 200 municipal, institutional, law enforcement, and private clients served throughout the United States," said Hogberg. "After an exhaustive 12-month search, the Phoenix Group selected Main Street Town Center in order to relocate to a Class A high-rise office building with first-class building ownership and management."

Adds Hogberg, "This lease brings us to over 87 percent occupied with less than 25,000 square feet of space remaining to lease at Main Street Town Center. Clearly, now more than ever, well-positioned assets with a strong amenity base make a difference, especially in a market currently challenged with a 20+ percent vacancy."

Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is based in Tustin, California with offices in Utah and throughout Southern California. For more information, please call the company’s headquarters at (714) 573-7780 or visit www.coreland.com.

The Muller Company Adds Two Commercial Real Estate Industry Veterans to Expand its Corporate Ranks
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Lori Ann Haigh Named Director of Business Development and Susan G. Rosenblatt Named Director of Asset Management

LAGUNA HILLS, CALIF. – The Muller Company, specializing in managing, investing and developing commercial real estate in the western United States, announces today that the firm has added two commercial real estate industry veterans to its corporate ranks. Lori Ann Haigh, former Vice President of National Sales at First American Title, will serve as The Muller Company's Director of Business Development; and Susan G. Rosenblatt, former Senior Vice President at Wells Fargo Bank, has been named Director of Asset Management. These additions will assist The Muller Company in expanding its business platform and growing its current portfolio of nearly 11 million square feet under management in California and the Phoenix markets.

As the new Director of Business Development, Haigh will be responsible for maintaining communications and relations with key industry contacts in order to provide The Muller Company with new partnership opportunities and fee management contracts. Haigh comes to The Muller Company with 15 years experience in the commercial title insurance industry where she advanced to the position of Vice President of National Sales at both Land America Commercial Services as well as First American Title Insurance. Haigh received a Bachelor Degree in Public Relations from the University of Southern California. A resident of Tustin, Haigh is a third-generation native Californian with a family history in serving the real estate community.

"My decision to work for The Muller Company was actually quite easy," said Haigh. "It's one thing to know the track record of a company; however, having worked with The Muller Company as a longstanding customer of mine while I was in the title business, I know the owners of The Muller Company; I know their character, their integrity, and their entrepreneurial spirit and passion for excellence. I consider it a privilege to have been chosen to expand their third-party management division."

Rosenblatt, as the Director of Asset Management, will be responsible for all aspects of debt capital management, including managing The Muller Company’s existing project financings and strategic lender and partner relationships as well as sourcing new debt and equity for future expansion. Rosenblatt has nearly 20 years of hands-on experience in commercial real estate finance from Wells Fargo Bank. She led all syndication activities for 20 real estate production groups and marketed to top national and middle market developers to win syndicated transactions as the Agent Bank. She received a Bachelor of Business Administration in Finance and Management from The College of William and Mary and a Masters of Business Administration from San Diego State University. She is a Licensed Real Estate Broker and currently lives in Newport Beach.

"I am delighted to take the role of Director of Asset Management for The Muller Company based on the company's outstanding reputation and track record in the real estate industry. The company has an extremely cohesive and dynamic management team with a strong base of talented employees with impressive tenure. The company's linear and nimble organizational structure, combined with the vision of the two key principals, will position it for significant growth in the future," says Rosenblatt.

Both women are highly involved in their industry and are members of National Association of Industrial and Office Properties (NAIOP), Commercial Real Estate Women (CREW) and International Association of Shopping Centers (ICSC). Rosenblatt is additionally involved in Real Estate Lenders Association (RELA) and Haigh spends time participating with Women in Leadership, Society of Industrial and Office Realtors (SIOR) and the National Charity League.

According to Stephen J. Muller, Principal, The Muller Company sees Haigh and Rosenblatt as tremendous assets and believes they will help spearhead the firm’s 2010 goals of refinancing, finding new institutional partners and growing the fee management side of the business. Haigh and Rosenblatt will report to Muller and also company Principal, Jon M. Muller.

In addition to the two new hires, The Muller Company attracts and retains many other highly talented individuals such as Christina DuCote', CPM, RPA, who was recently nominated by readers and editors of the San Diego Daily Transcript as their "Top Influential," based upon her actions and opinions strongly influencing San Diego's real estate and business community. She is the Senior Property Manager at Torrey Pines Court in La Jolla, Calif., a 200,000-square-foot office park, which was purchased by The Muller Company in a joint venture with Rockwood Capital in July 2005. When purchased, the project was 56 percent leased and had severe functional challenges. With a construction cost of approximately $26 million, The Muller Company renovated three of the existing buildings down to the raw structure, redeveloping it to a first class research and development facility. After completion, Torrey Pines Court was awarded Energy Star status and became a recipient of BOMA 2008 Building of the Year award and recently reached 100 percent occupancy with major tenants such as NOAA, Orexigen and Wireless Health.

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 under management in the California and Phoenix markets. Over the years, The Muller Company has partnered with institutional owners such as GE Capital, Capmark Financial, 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 http://www.blogger.com/www.themullercompany.com.

Hanley Investment Group Sells Multi-Tenant Retail Strip Center in Orange County, Calif. for $3,000,000
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Tustin Retail Center Sells for $312 PSF

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 Edward B. Hanley and Eric P. Wohl of Hanley Investment Group represented the seller in the sale of a multi-tenant retail strip center in Orange County, Calif. The purchase price was $2,990,007, representing $312 per square foot.

The 9,597-square-foot retail center, known as Walnut Newport Center, is located at 13842 Newport Avenue in Tustin. The four-tenant strip center is anchored by Blockbuster Video and is situated on a 0.74 acre parcel of land. Built in 1986, Walnut Newport Center was 100 percent occupied at the time of sale.

“It was a rare sale of a multi-tenant strip center in Orange County,” said Edward B. Hanley, president at Hanley Investment Group. “Due to the property’s excellent location and surrounding demographics, we experienced a great deal of interest.”

“It was a challenging transaction due to the uncertainty of Blockbuster Video as a tenant in today’s market and the fact that they occupied approximately 65 percent of the property’s square footage,” said Eric P. Wohl, a vice president at Hanley Investment Group. “The strength of the location overcame initial objections and the future potential to re-tenant the space if Blockbuster Video were to vacate the premises.”

Hanley notes the sale was an all cash transaction.

The buyer, Lee Family Trust of Orange County, Calif. was represented by Chuck Hathoot of Prudential California Realty based in Laguna Niguel, Calif. The seller was Westwood Financial of Los Angeles, 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 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 hanleyinvestment.com or call (949) 585-7610.