IRVINE, CA – May 28, 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 Carlos J. Lopez and Kevin T. Fryman represented the seller and Edward B. Hanley represented the buyer in the sale of an El Super anchored shopping center in the Pomona, Calif. The purchase price was $14 million, which represented a 7.61% capitalization rate.
“The Shops at Indian Hill represents the 6th Southern California grocery-anchored center Hanley Investment Group has sold in the last 6 months,” said Lopez, senior vice president of Hanley Investment Group.
The Shops at Indian Hill is located at 631-641 Indian Hill Boulevard and 1541-1575 Holt Avenue in Pomona. The multi-tenant shopping center is 58,485-square-feet and situated on 4.25 acres. The center was remodeled in 2008, and includes tenants such as: El Super, ACE Cash Express, Adriana’s Insurance, AT&T, Baskin Robbins, Liberty Tax, and Mattress Xpress. The center was 100% occupied at the time of sale.
“We have recognized strong investor demand for all of our recent sales, which have spanned multiple grocer categories, including the mixed-use Ralphs in downtown Los Angeles, ethnic El Super anchored center, specialty Sprouts anchored center, and traditional anchors of Vons, Pavilions, and Stater Bros,” said Kevin T. Fryman, senior vice president of Hanley Investment Group.
The buyer was a private investor from Los Angeles, Calif. The seller was Red Mountain Retail Group of Santa Ana, 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.