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Hanley Brown Group Represents Seller in Sale of Single-Tenant Medical Building in Lancaster, CA for $8,785,000
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers, announced today Edward B. Hanley of Hanley Brown Group represented the seller in the sale of the High Desert Medical Center, a 76,748-square-foot single-tenant pad building located within High Desert Plaza in Lancaster, Calif. The purchase price was $8,785,000 at a cap rate of 6.5%.
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IRVINE, CA – Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers, announced today Edward B. Hanley of Hanley Brown Group represented the seller in the sale of the High Desert Medical Center, a 76,748-square-foot single-tenant pad building located within High Desert Plaza in Lancaster, Calif. The purchase price was $8,785,000 at a cap rate of 6.5%.
Located at 43839 15th Street West, High Desert Medical Group is the premier medical group in the Antelope Valley and serves the area’s residents with a multitude of services including Internal Medicine, Family Practice, Pediatrics, Urgent Care and other specialty clinics. Built in 1980 on 8.28 acres, the property is located just north of the signalized intersection of Avenue K and 15th Street West.
“High Desert Medical Center is a prominent medical facility serving the communities of Lancaster and Palmdale,” says Edward Hanley, president of Hanley Brown Group. “With a population expected to double over the next 20 years, the property is an outstanding single-tenant investment featuring annual increases in a high growth area.”
The seller was Antelope Valley Mervyn’s Building Partners LP, a California Limited Partnership. The buyer, United Insurance Company of America, an Illinois corporation, was represented by Mike Powers of J.S. Burns Real Estate.
About Hanley Brown Group Real Estate Advisors
Hanley Brown Group Real Estate Advisors is one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers. Based in Irvine, California, Hanley Brown Group is led by long-time industry veterans Edward B. Hanley and Gregory S. Brown, both designated CCIMs. As specialists in the sale of retail properties, Hanley Brown Group has earned a lasting reputation for its successful track record, investment expertise, dedication and integrity. For more information, visit the Company’s website at www.hanleybrown.com or call (949) 585-7610.
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Contact:
Anne Monaghan
Monaghan Communications
949.722.2933
monacomm@pacbell.net
Send an email to Anne Monaghan of Monaghan Communications of Hanley Brown Group
949-722-2933
Keywords:
Hanley Brown Group, Lancaster, Retail Investment
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