Hanley Investment Group Sells Grocery Anchored Shopping Center in Rancho Cordova, Calif.
IRVINE, CA – January 31, 2012 – (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 Kevin T. Fryman and Edward B. Hanley represented the buyer and seller in the sale of Bradville Square, a 90,435-square-foot grocery anchored shopping center in Rancho Cordova, Calif. The purchase price was not disclosed.
Situated in Sacramento County, Bradville Square is located at 3609, 3633, 3643, 3635 Bradshaw Road in Rancho Cordova. Built in 1962 on 4.71 acres, the shopping center includes the following high profile, national and regional tenants: Fresh & Easy (not a part of the sale, NAP), AutoZone, Metro PCS, O’Reilly Auto Parts (NAP), Check Into Cash, Papa Murphy’s Pizza, Subway, and Burger King (NAP). The property was 64% occupied at the time of sale.
“The buyer was attracted to the fact they could acquire Bradville Square at a strong yield with an opportunity to lease up the 36% vacancy, especially when Fresh & Easy opens sometime in the future,” said Kevin T. Fryman, vice president of Hanley Investment Group. “This value-add investment is indicative of the type of shopping center many of the active buyers are continuing to aggressively pursue.”
The buyer was VCG Bradville Square, LLC of Los Angeles, Calif. The seller was Passco Bradville Square, LLC, an Irvine-based TIC investment/management firm.
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.
