Hanley Investment Group Sells Single-Tenant NNN Wells Fargo for $3,245,000
Edward B. Hanley and William B. Asher of Hanley Investment Group represented the seller in the sale of a single-tenant NNN Wells Fargo in Menifee, Calif. The purchase price was $3,245,000. Located in Riverside County at 30186 Haun Road in Menifee, the single-tenant Wells Fargo is a pad building situated within the Countryside Marketplace, the dominant power center in the region anchored by Super Target, Lowe’s, Kohl’s, Best Buy, Staples and Michaels. Built in 2008, Wells Fargo occupies a 5,250-square-foot, free-standing building situated on a 0.55-acre parcel of land. The buyer paid cash and fulfilled a 1031 exchange with the purchase.
View as PDF
 Print View
March 23, 2010 (FPRC) -- IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that Edward B. Hanley and William B. Asher represented the seller in the sale of a single-tenant NNN Wells Fargo in Menifee, Calif. The purchase price was $3,245,000.
Located in Riverside County at 30186 Haun Road in Menifee, the single-tenant Wells Fargo is a pad building situated within the Countryside Marketplace, the dominant power center in the region anchored by Super Target, Lowe’s, Kohl’s, Best Buy, Staples and Michaels. Other notable tenants include Tilly’s, Old Navy, Petco, BevMo, In-N-Out, Red Robin, Chipotle and Starbucks. Built in 2008, Wells Fargo occupies a 5,250-square-foot, free-standing building situated on a 0.55-acre parcel of land.
“The demand for single-tenant NNN investments continues to be extremely strong,” said Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors. “There is a lack of quality single-tenant NNN properties on the market right now in southern California. When they do come to market, they are transacting quickly with all cash buyers.”
“The Wells Fargo benefits from an outstanding location within a power center that features a high quality mix of credit tenants,” said William B. Asher, managing director at Hanley Investment Group. “Overall, single-tenant bank buildings with the credit of a Wells Fargo or similar to it are receiving the most activity in the marketplace and viewed by the investment community as one of the most stable and secure single-tenant investments.”
Asher notes the buyer paid cash and fulfilled a 1031 exchange with the purchase.
The buyer, Lew 1st – Crenshaw Properties, LLC of Glendale, Calif., was represented by James Kwon of Coldwell Banker Best Realty in Fullerton, Calif. The seller was Donahue Schriber Realty Group of Costa Mesa, Calif.
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment brokerage firm with a two billion dollar 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.
Send an email to Anne Monaghan of Monaghan Communications
949-722-2933
Keywords:
Hanley Investment Group, retail real estate, advisors brokerage NNN
Recent Press Releases By The Same User New KTGY-designed Residential Community Offers High Quality, Eco-Friendly Workforce Housing in South Los Angeles (Wed 1st Feb 12)
Hanley Investment Group Sells Grocery Anchored Shopping Center in Rancho Cordova, Calif. (Mon 30th Jan 12) Lucescu Realty Announces 2nd Part of the Sale of Scottsdale Promenade in Arizona to Excel Trust for a Total Consideration of $166 Million (Wed 25th Jan 12) Utah's Greenest Living Community Terra Sol Opens in South Salt Lake (Tue 24th Jan 12) Hanley Investment Group Concludes 4th Quarter 2011 with Burst of Closings; More Closings to Follow in 2012 (Tue 24th Jan 12) Present Value Properties Names Shannon Labowitz-Coleman as Associate Broker (Tue 24th Jan 12) |
