Sale Marks 7th California Grocery-Anchored Center Sold by Hanley Investment Group in Last 12 Months
IRVINE, CA – July 10, 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 Edward B. Hanley assisted with the sale of Granada Shopping Center, a Lucky Supermarket-anchored shopping center in Livermore, Calif., in an off-market transaction. The purchase price was $17.5 million.
Granada Shopping Center is located at 1951 Holmes Street in Livermore, at the northwest corner of Holmes Street and Concannon Boulevard. The shopping center is 69,325 square feet and situated on 6.39 acres. The property, which was built in 1965, is anchored by Lucky Supermarket and includes tenants: Fairmont Bank, Cosmo Prof, Curves, Subway and Country Waffles. The center was 91% occupied at the time of sale.
The buyer was Retail Opportunity Investments Corp. (Nasdaq:ROIC) of San Diego, Calif. The seller was Granada Retail, LLC of Oakland, Calif.
“Demand for well-located grocery-anchored shopping centers remains strong nationwide,” said Edward B. Hanley, president of Hanley Investment Group. “Granada Shopping Center represents the 7th California grocery-anchored center Hanley Investment Group has sold in the last 12 months, for an aggregate value of approximately $145 million.”
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.