Hanley Brown Group Represents Buyer and Seller in the $2.3 Million Sale of Hollywood Video/Quiznos in Pasadena, Texas
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 shopping centers, announced today Eric P. Wohl of Hanley Brown Group represented the buyer and seller in the sale of a Hollywood Video/Quiznos two-tenant net leased investment in Pasadena, Texas. The 6,656-square-foot pad building, located just east of the signalized intersection of Fairmont Parkway and Preston Avenue, sold for $2,175,000 at a cap rate of 6.89%.
View as PDF
 Print View
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 shopping centers, announced today Eric P. Wohl of Hanley Brown Group represented the buyer and seller in the sale of a Hollywood Video/Quiznos two-tenant net leased investment in Pasadena, Texas. The 6,656-square-foot pad building sold for $2,175,000 at a cap rate of 6.89%.
Located just east of the signalized intersection of Fairmont Parkway and Preston Avenue, the Hollywood Video/Quiznos building is situated on a 0.81-acre parcel of land. Built in 1999, the Hollywood Video/Quiznos building is located along the main retail thoroughfare in Pasadena with such tenants as Wal-Mart Supercenter, Super Target, Kohl’s, Lowe’s and Walgreens in the immediate trade area. The property features excellent visibility and is easily accessible from the Sam Houston Tollway and the I-45 Freeway.
The buyer was a private investor from West Hollywood, Calif., and the seller was a private investor from Alta Loma, Calif.
“This was a unique transaction as both the buyer and seller were located in California. We fulfilled a difficult 1031-exchange for the buyer while delivering a record price for the trade area to the seller,” said Edward Hanley, President of Hanley Brown Group.
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 shopping centers. Based in Irvine, Calif., 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.
# # #
For more information on this transaction, please contact:
Edward B. Hanley
Hanley Brown Group Real Estate Advisors
949.585.7677
Send an email to Anne Monaghan of Monaghan Communications
949-722-2933
Keywords:
retail investment, net leased investment, retail properties
Recent Press Releases By The Same User Investec Breaks Ground on Gene Autry Plaza, a New $17.5 Million Shopping Center in Palm Springs Anchored by Smart & Final and Staples (Tue 18th Nov 08)
Rawson, Blum & Leon and West Valley Properties Form New Company RBL Real Estate, Inc. to Acquire & Develop Retail and Commercial Projects in Western U.S. (Mon 10th Nov 08) Coreland Companies Negotiates Two Leases in Orange County Valued at $3.1 Million (Fri 24th Oct 08) KKE Architects Completes Three Shopping Centers for Hopkins Real Estate Group in Southern California (Thu 23rd Oct 08) Whittlesey Doyle Represents Three Buyers & Sellers in Large Single-Family Residential Land Deals in Southern California (Wed 22nd Oct 08) Workforce Housing Project Has Broken Ground in Rancho Cucamonga; KTGY Selected as Architect (Mon 20th Oct 08) |
