Hanley Investment Group and Voit Real Estate Services Arrange Sale of Single-Tenant Petco in Redondo Beach, Calif. for $7.63 Million

Property Trades Above List Price at Historic Low Cap Rate

CORONA DEL MAR, CALIF. — (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Voit Real Estate Services, announced today that the two firms completed the sale of a single-tenant net-leased coastal property occupied by Petco at 537 North Pacific Coast Highway in Redondo Beach, Calif. The sales price of $7,630,000 represented a cap rate of 4.5%, a record low cap rate for a single-tenant Petco in Los Angeles County.

Hanley Investment Group President Ed Hanley and Executive Vice President Bill Asher, along with the seller’s exclusive advisor Joe Miller, a vice president at Voit Real Estate Services, represented both the seller and buyer in the 1031 exchange transaction. The seller was The Beacon Group, Inc., a California Corporation, based in Orange County. The buyer was a private corporation based in Los Angeles.

About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved.
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Hanley Investment Group

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.

Contact:

Phone: (949) 585-7610

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