LAKE ELSINORE, Calif. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm represented the buyer and seller in the sale of Oak Grove Crossing, a 22,577-square-foot shopping center shadow-anchored by Target in Riverside County, Calif. Oak Grove Crossing is located at 18283 &18285 Collier Avenue in the city of Lake Elsinore, Calif. The purchase price was $11,565,200.
Hanley Investment Group Executive Vice President Kevin Fryman represented the seller, a private investment partnership based in Murrieta, Calif. The buyer, a family trust from Orange, Calif., was represented by Hanley Investment Group Associate Jeff Lefko and Executive Vice President Bill Asher.
The property, which was built in 2006, is located on 2.36 acres and was 100 percent occupied at the time of the sale by 81 percent national and regional credit tenants. National and regional credit tenants include McDonald’s with a drive-thru, Starbucks, GameStop, GNC, H&R Block, Pacific Dental, Papa John’s Pizza, Subway, Supercuts, Verizon and Yogurtland.