Hanley Investment Group Reps Buyer & Seller in $15,700,000 Sale of Commercial Center in Diamond Bar, Calif.
Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, represented the buyer and seller in the $15,700,000 sale of a multi-tenant commercial center in Diamond Bar, Calif. The 60,022 sq. ft. retail/office property, known as Ranch Center, is located at 800-880 N. Diamond Bar Boulevard. The property was built in 1982 and was 99% occupied at the time of sale.
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July 9, 2007 (FPRC) -- IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today the company represented both the buyer and the seller in the sale of a multi-tenant commercial center in Diamond Bar, Calif. Hanley Investment Group’s Edward B. Hanley represented the seller and Eric L. Werner represented the buyer. The purchase price was $15,700,000, which represented a 6.60% capitalization rate.
The 60,022-square-foot retail/office property, known as Ranch Center, is located just north of where the 57 and 60 freeways intersect at 800-880 North Diamond Bar Boulevard in Diamond Bar. Located directly adjacent to the 57 freeway, the property is situated on 5.62 acres and consists of 24 tenants in three buildings including Acapulco Restaurant and Well & Fit Adult Health Care. The property was built in 1982 and was 99% occupied at the time of sale.
“We generated multiple offers after marketing the property, providing further evidence that the appetite for investment properties in Southern California is still very healthy,” said Edward B. Hanley, president at Hanley Investment Group. Hanley also notes the buyer released a non-refundable deposit to the seller in less than a week to secure the deal.
“The property was a unique investment opportunity that featured a well-balanced mix of retail and office tenants that cater to the surrounding area,” said Eric L. Werner, senior associate at Hanley Investment Group. “The buyer acquired a commercial center that benefits from excellent exposure and visibility in a trade area with very low vacancy.”
The buyer was a private investor based in El Monte, Calif. The seller was Aspen Management Company of Tarzana, Calif.
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a $1 billion transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment 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 Investment 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 Investment 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.hanleyinvestment.com or call (949) 585-7610.
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Send an email to Anne Monaghan of Monaghan Communications
949-722-2933
Keywords:
Hanley Investment Group, Eric Werner, retail properties
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