Hanley Brown Group Represents Buyer & Seller in $3,500,000 Sale of Neighborhood Shopping Center in Riverside County, 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 buyers and sellers in the sale of retail centers, announced today Jeremy McChesney and Eric Werner of Hanley Brown Group represented the buyer and seller in the sale of a 14,400-square-foot neighborhood shopping center in Riverside County, CA. The purchase price was $3,500,000 at a 6.98% cap rate. Built in 1981, the 100% occupied property is located at the intersection of San Jacinto Avenue and Esplanade Avenue in San Jacinto.
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August 15, 2006 (FPRC) -- 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 buyers and sellers in the sale of retail centers, announced today Jeremy McChesney and Eric Werner of Hanley Brown Group represented the buyer and seller in the sale of a neighborhood shopping center in the City of San Jacinto in Riverside County, CA. The purchase price was $3,500,000 at a 6.98% cap rate.
The 14,400-square-foot shopping center, known as San Jacinto Center, is located at the intersection of San Jacinto Avenue and Esplanade Avenue. The center, which is 100% occupied, was built in 1981 and features Cardenas Market, Del Taco and Bank of Hemet at an excellent, highly visible signalized corner location.
According to Eric Werner, “This transaction represented a historically high cost per square foot for the City of San Jacinto while at the same time procuring a favorable cap rate in today’s market for the incoming buyer.”
The buyer was a family trust based in Orange County, CA. The seller was a private investor based in Hemet, California.
Built on a solid foundation of performance, integrity and dedication, Hanley Brown Group Real Estate Advisors is a boutique retail investment advisory firm with a $900 million transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations.
Hanley Brown 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 Brown 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 Brown 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.hanleybrown.com or call (949) 585-7610.
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Send an email to Anne Monaghan of Monaghan Communications
949-722-2933
Keywords:
Hanley Brown, retail investment, brokerage
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