IRVINE, CA – February 20, 2013 – (RealEstateRama) — 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 and Edward B. Hanley represented the buyer and seller in the sale of Bernardo Heights Plaza, a Sprouts-anchored shopping center in the upscale master- planned community of Rancho Bernardo in San Diego, Calif. The purchase price was $12,450,000.
“Other than single-tenant net leased assets, grocery-anchored shopping centers continue to be one of the most sought after retail investments in today’s market,” said William B. Asher, managing director at Hanley Investment Group.
Bernardo Heights Plaza is located at 15727 & 15731 Bernardo Heights Parkway in Rancho Bernardo. The multi-tenant shopping center is 37,729 square feet and situated on 3.22 acres. The center was built in 1983, and was remodeled in 2006. The property is anchored by Sprouts and also includes tenants: Tuesday Morning, Bernardo Heights Dental Group, Majestic Nails & Spa, Sports Clips and Wholesome Choice Pet Market. The center was 100% occupied at the time of sale.
“Based on the response we received from the market it is clear that buyer demand for well-anchored shopping centers in San Diego County remains high,” said Edward B. Hanley, president of Hanley Investment Group.
The buyer was ROIC BHP, LLC of San Marcos, Calif. The seller was MPC Bernardo Heights, L.P. of Anaheim, 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 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.