Free Press Release Center Logo
   
  Home | About Us | Sample Press Release
  Press Release Articles | Press Releases and SEO | Press Release Book  
 

Hanley Investment Group Sells CVS/pharmacy Anchored Shopping Center in Huntington Beach, Calif. for $13,870,000

Hanley Investment Group represented the seller in the sale of a CVS/pharmacy anchored center in Huntington Beach, Calif. The purchase price was $13,870,000, representing a 5.56% capitalization rate and $445 psf.

PDF  View as PDF  Print View   

March 18, 2013 (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 William B. Asher, Eric P. Wohl and Edward B. Hanley represented the seller in the sale of a CVS/pharmacy anchored center in Huntington Beach, Calif. The purchase price was $13,870,000, representing a 5.56% capitalization rate and $445 per square foot.

CVS Plaza on Beach Boulevard is located at 18872-17922 Beach Boulevard in Huntington Beach. The multi-tenant shopping center is 31,140 square feet and situated on 2.54 acres. The center was built in 2004 and was remodeled in 2008. The property is anchored by CVS/pharmacy and also includes other notable tenants O’Reilly Auto Parts, Starbucks (Drive-Thru), Bank of America (ATM) and Verizon Wireless. The center was 100% occupied at the time of sale.

“We were able to structure many creative solutions to the transaction that benefitted both buyer and seller, which resulted in an escrow that closed within approximately 21 days," said William B. Asher, managing director at Hanley Investment Group.

The buyer, Sampont Properties, LLC of Los Angeles, Calif., was represented by Jim Wellbaum of Triwell Properties in Hawthorne, Calif. The seller was ValCenters of Newport Beach, Calif.

“It was a record setting year in 2012 for Hanley Investment Group for the sale of Orange County shopping centers and we anticipate another great year in 2013,” said Asher. Last year, Hanley Investment Group negotiated the sale of more than $70 million in multi-tenant shopping centers in Orange County including The Landing for $35 million and Mariner’s Center for $12.4 million, both located in Newport Beach.

“Historically, a premium has been paid for Orange County retail and the sale of CVS Plaza is another example we certainly don't see any signs of this changing in the future,” said Asher. “A combination of historically low interest rates, lack of supply and increased investor demand has given us the ability to obtain record pricing on multiple Orange County properties we haven’t seen since 2007-2008.”

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 three 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) 585-7610

Recent Press Releases By The Same User

Hanley Investment Group Sells Grocery-Anchored Retail Center for $3.54 Million in White Pine, Tennessee (Tue 2nd Jul 13)

Hanley Investment Group Negotiates Sale of 3 Single-Tenant 7-Eleven Stores (Thu 27th Jun 13)

Thompson | Dorfman Partners Hires Christopher C. Young as Senior Director of Construction (Thu 27th Jun 13)

ABC Green Home Wins the 2013 Golden Nugget Grand Award (Thu 27th Jun 13)

KTGY-Designed New Arista Uptown Apartments Delivers What Today's Gen Y Wants (Thu 27th Jun 13)

KTGY-Designed The Paseos at Magnolia in Riverside to Open (Tue 18th Jun 13)



Press releases by industry
Advertising
Aerospace and Defense
Architecture
Arts and Entertainment
Audio and Video
Automotive
Baseball
Basketball
Beauty
Beverages
Business
Chemicals
Christianity
Communication
Computers
Consumer
Crops
eCommerce
Economy
Education
Employment
Energy
Environment
Events and Trade Shows
Fashion
Finance
Food
Football
Forestry
Golf
Government
Hardware
Healthcare
Holidays
Human Resources
Immigration Services
Information Technology
Insurance
Internet
Investment Services
Legal
Leisure
Lifestyle
Linux and Open Source
Maritime
Media
Non-Profit
Photography
Plumbing and Heating
Politics
Public Relations
Railroads
Real Estate
Religion and Faith
Restaurants
Retail
Science
Society
Software
Sports
Technology
Television
Toys
Trade
Transportation
Travel and Tourism
Trucking
Volunteer
Waste Management
Water

[ Vist our sister sites: Linux news | Bible Study Tool ]

Site design and layout copyright 2005-2015 Free Press Release Center