RealEstateRama   -   Site   -   in News   -   in Media   -   in Social   -   Web

LBG REAL ESTATE COMPANIES Completes Sale of Newly-redeveloped, 100%-Leased Shopping Center in Huntington Beach, CA

HUNTINGTON BEACH, CA – (RealEstateRama) — LBG REAL ESTATE COMPANIES, LLC (LBG), a Southern California-based investor in retail real estate, announces that the firm has completed the sale of a prime, newly-redeveloped retail center in Huntington Beach, Calif. to a private investor based in Orange County at a sale price of $18,555,000. The sale of the property was brokered by Ed Hanley, Bill Asher and Eric Vu of Hanley Investment Group in an off-market transaction.

The property is prominently located on the hard southeast corner of Brookhurst Street and Adams Avenue (10026 Adams Avenue and 20002 – 20052 Brookhurst Street) and contains approximately 24,000 square feet of building area on 1.96 acres. The property is surrounded by many leading national retailers, which provides a strong consumer draw to the intersection. These include Target, Kohl’s, Ralphs, Stater Bros., Sprouts, CVS/pharmacy, Chase Bank, JoAnn’s, Wells Fargo, Starbucks, and many others.

LBG acquired the property from US Bank on February 17, 2015, and completed its renovation and re-tenanting of the property in 12 months. The redevelopment included the relocation of US Bank, whose space was redeveloped for PetSmart, updating the façade, designing a new sign program, maximizing the parking plan/restriping, and redeveloping/demising the shop buildings.

The property has been leased to PetSmart, US Bank, Phenix Salon, Tenet Healthcare, and Orangetheory Fitness, achieving 100% stabilization. LBG handled the leasing in-house during ownership of the property.

More

SHARE
Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $7.7 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first, sets us apart in the industry.

Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

Contact:
Phone: (949) 585-7610