Hanley Brown Group Represents Buyer in $4,995,000 Sale of Multi-Tenant Retail Center in Hemet, CA
Hanley Brown Group Real Estate Advisors announced today Eric P. Wohl of Hanley Brown Group represented the buyer in the $4,995,000 sale of Diamond Valley Shopping Center in Hemet, CA. Located at State Street and Stetson Avenue, the 57,818-square-foot shopping center consists of 2 buildings and is situated on 5.14 acres in Riverside County. The property was 83% occupied at the time of sale.
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October 10, 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 properties, announced today Eric P. Wohl of Hanley Brown Group represented the buyer in the sale of a multi-tenant retail center in Hemet, CA. The purchase price was $4,995,000.
The 57,818-square-foot shopping center, known as Diamond Valley Shopping Center, is located at the signalized intersection of State Street and Stetson Avenue in the City of Hemet.
Located at 1109-1287 State Street, the center is shadow anchored by Henry’s Market and Chevron. The property, which consists of two buildings situated on 5.14 acres, was 83% occupied at the time of sale.
“This was an incredible opportunity for the buyer to acquire a grocery anchored shopping center with excellent upside potential to increase rents and lease up the remaining vacant space, in one of the fastest growing areas in Riverside County,” says Eric Wohl, senior associate at Hanley Brown Group.
The buyer was a private investor based in Newport Beach, CA. The seller was 1109-1287 State Street, LLC based in San Diego, CA and was represented by Tim Kerrigan of CB Richard Ellis, San Diego.
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 Group, retail investment brokerage, shopping center sale
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