IRVINE, CA – February 22, 2013 – (RealEstateRama) — Hanley Investment (HI) Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors, specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States, announced today that Carlos J. Lopez and Edward B. Hanley represented the buyer and seller in the purchase and sale of the ground floor retail portion of the development known as Market Lofts. The purchase price was $18.95 million.
Located at 645 West 9th Street in Downtown Los Angeles, the innovative, high-end, mixed-use retail development totals approximately 55,000 square feet. Built in 2007, the fully-occupied retail building includes an approximate 50,000-square-foot Ralphs Fresh Fare and 6 other retail stores: Coffee Bean & Tea Leaf, Quiznos, Robeks, Simply Salad, Supercuts and The UPS Store.
“Downtown Los Angeles is probably the most dynamic real estate marketplaces in all of Southern California, if not the entire United States,” said Carlos Lopez, President of HI Urban Retail Advisors. “The footprint of Downtown Los Angeles will be adding more mid and high-rise apartment buildings, new hotel developments, world class museums, football stadiums, a potential street car and the arrival of exciting retailers and restaurants.”
Lopez adds, “The Ralphs building is positioned to benefit from the dynamic population growth and future planned development. It’s going to be exciting to see this all take place and the incredible growth moving forward.”
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 advisory firm with a two 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.
About HI Urban Retail Advisors
HI Urban Retail Advisors is a retail investment division of Hanley Investment Group Real Estate Advisors specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States. Built on unsurpassed dedication and an impressive track record of performance and results, HI Urban Retail Advisors consistently exceeds client expectations through its unparalleled, comprehensive knowledge of urban retail from a national and global perspective.
Whether it is situated in a well-located, dynamic commercial district, or in conjunction with a mixed-use project, urban retail is a very specific product type within the overall retail marketplace. HI Urban Retail Advisors guides clients in attaining the highest returns through its exceptional experience and responsive team that thoroughly comprehends this unique and growing market segment. HI Urban Retail Advisors utilizes its innovative expertise to lead property owners through complex issues relating to land use and the progressive revitalization of high density urban areas to effectively help clients understand the significant characteristics of each urban retail asset and its optimum positioning and value.
HI Urban Retail Advisors works closely with investors to develop and maintain long-term relationships and has successfully accumulated a highly targeted database of mixed-use and urban retail property investors and owners from every major urban market in the country that is unmatched in the industry. HI Urban Retail Advisors’ concentrated expertise and exclusive focus on mixed-use and urban retail properties translate into measurable results and is the reason that clients rely on HI Urban Retail Advisors to be the most dependable source for valuation services, market information and urban retail investment sales. For more information, visit the Company’s website at www.hiurbanretail.com or call (949) 585-7610.