Lake Avenue

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm represented the buyer and seller in the off-market sale of a 13,940-square-foot multi-tenant retail pad, shadow-anchored by a new Walmart Supercenter at 13325 Main Street in Hesperia, Calif. The sale price was $8.5 million, yielding a cap rate of 5.33 percent. The transaction represents a record-low cap rate for a fully-leased multi-tenant retail pad over 10,000 square feet in the Inland Empire since 2008, according to CoStar.