Appetite for Big Box Retail Remains Strong in Southern California
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, announced today that President Ed Hanley and Senior Vice President Kevin Fryman represented the buyer and seller in the sale of Seven Trees Shopping Center, a 150,338-square-foot Target-anchored shopping center in San Bernardino, Calif. The sale price was $8.57 million.
Hanley has had a relationship with both the buyer and seller for over 15 years and, as a result, was able to meet both their unique requirements through the purchase of this asset. The seller was a private investor based in Los Angeles, Calif. The buyer was Westland Real Estate Group in Long Beach, Calif.
Seven Trees Shopping Center is located on 13.79 acres at the northwest corner of E. Highland Avenue and Sterling Avenue in San Bernardino. The property, which was built in 1979-1986, was 85% occupied at the time of the sale.