Record Pricing for a Multi-Tenant Center in the Antelope Valley
LANCASTER, Calif. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today the sale of Lancaster Triangle, a 35,569-square-foot multi-tenant shopping center in Lancaster, California. The purchase price was $5.75 million, which represented one of the lowest recorded closing cap rates for a multi-tenant center in the Antelope Valley built before 2005.
The buyer was a private investor based in North Hollywood, California. The seller, Lancaster Triangle, LLC, was based in Calabasas, California. Both parties were represented by Executive Vice President Bill Asher and Associate Jeff Lefko of Hanley Investment Group in Corona del Mar, California, along with Rosanne Morgiewicz of The Morgiewicz Company of Malibu, California.