Hanley Investment Group Lists First Tesco Anchored Shopping Center for $20,425,000 (2007-09-14)
Hanley Investment Group Real Estate Advisors has been awarded the exclusive listing to market the first U.S. Tesco anchored shopping center in Las Vegas, Nevada, Warm Springs Plaza. The shopping center is 96% occupied and is listed for $20,425,000 on behalf of the seller, Woodland Hills-based Toibb Enterprises. In Covina, Calif., Hanley Investment Group has also been awarded the listing for the sale of Grand Covina Plaza, a grocery/drug anchored shopping center at the southwest corner of Grand Avenue and Covina Boulevard. The property is being marketed on a “Best Offer” basis with the deadline for offers to be submitted no later than October 19, 2007. In San Antonio, Texas, Hanley was awarded the listing for the sale of Ingram Square. The asking price is $7,380,000 representing an 8.0% cap rate. In the Inland Empire region of Southern California, Hanley Investment Group was awarded three listings: a portion of Wolf Store Retail Park in Temecula (asking price is $5,750,000); a portion of Archibald’s Plaza in Ontario (asking price is $7,455,000); and a Starbucks anchored retail center in Victorville (asking price is $4,260,000).
