Hanley Brown Group Awarded Two Prime Orange County Listings Valued at $24,350,000
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 shopping centers, announced today it has been awarded the exclusive listings to market College Country Shopping Center in Huntington Beach, Calif. for $12,650,000 at a cap rate of 6.37% and Magnolia Point & Magnolia Center in Westminster, Calif. for $11,700,000 at a cap rate of 6.00%. Eric P. Wohl of Hanley Brown Group has been named the listing agent for both properties.
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October 20, 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 owners in the sale of shopping centers, announced today it has been awarded the exclusive listings to market College Country Shopping Center in Huntington Beach, California and Magnolia Point & Magnolia Center in Westminster, California. Eric P. Wohl of Hanley Brown Group has been named the listing agent for both properties.
College Country Shopping Center is situated on 3.77 acres and is located at the signalized corner of Center Avenue and Gothard Street in Huntington Beach. The property is ideally located directly adjacent to the recently redeveloped Bella Terra Mall and Golden West College. Anchored by Del Taco, the offering includes four retail buildings and a two-story office building totaling 59,793 square feet. The shopping center is listed for $12,650,000 at a 6.37% capitalization rate on behalf of a private investor in Los Angeles County.
Built in 1979, College Country Shopping Center features a unique tenant mix of high quality restaurants, shop space, and office space. “The majority of the tenants in the center have been at the location for over five years which shows the desirability and strength of the location. With numerous tenants paying below market rents, the offering presents a prospective investor with tremendous upside potential in a prime central Orange County location,” says Eric Wohl, senior associate at Hanley Brown Group Real Estate Advisors.
Magnolia Point & Magnolia Center consists of two retail/office buildings and is offered as one retail investment opportunity. Located at the signalized intersection of Magnolia Street and McFadden Avenue in the City of Westminster, the property is situated on 1.99 acres in the heart of “Little Saigon,” home to more than 3,500 Vietnamese-American businesses. Magnolia Point is a newly constructed 16,808-square-foot, multi-tenant retail/office commercial center, which features brand new 2006 construction and national anchor tenants Countrywide Home Loans, Investors Title Company and NAI Commercial Realty.
Directly across the parking lot (east of Magnolia Point) is Magnolia Center a 9,940-square-foot multi-tenant retail center with excellent long-term historical tenancy, providing a prospective investor with stability and the opportunity to increase below market rents. Magnolia Point & Magnolia Center is listed for $11,700,000 at a 6.00% capitalization rate on behalf of a private investor in Orange County.
“Magnolia Point & Magnolia Center is ideally located within Little Saigon, a highly desirable Orange County submarket which features low vacancy rates and a dense residential population base,” says Wohl. “The property is a unique investment opportunity providing a prospective investor with secure and stable cash flow with upside potential to increase below market rents. The high profile retail/office center benefits from an excellent location, 100% occupancy and is an outstanding pride of ownership investment.”
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, Eric Wohl, retail investment brokerage
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