Hanley Brown Group Represent Buyer & Seller in Sale of Multi-Tenant Strip Center in Riverside for $2,295,000
(PRLEAP.COM) IRVINE, CA – Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers, announced today Eric L. Werner of Hanley Brown Group represented the buyer and seller in the sale of a 15,300-square-foot multi-tenant strip center located at the southeast corner of Tyler Street and Wells Avenue in the City of Riverside, Calif. The purchase price was $2,295,000.Built in 1991 on 1.38 acres, Tyler Plaza features nine tenants in two buildings located between the residential communities of west Riverside and the Riverside (I-91) Freeway. It’s close proximity to two major Redevelopment Zones puts Tyler Plaza in a prime location to benefit from growing traffic counts and customer draw created by future redevelopment.
“This investment provides the buyer with an excellent opportunity to own a multi-tenant retail center with below-market rents in a growing location,” says Werner. “The current condition of the property presents the buyer with a stable and secure cash flow with the potential to achieve rent growth and value appreciation over time, which matches the buyer’s long-term investment strategy.”
The seller was an Orange County based limited partnership and the buyer was a Sacramento based private investor.
Werner is an expert in the Riverside County retail market, and has played a key role in the disposition of over $500,000,000 worth of retail transactions in Southern California. His extensive work with clients ranging from private investors to larger institutional clients, has allowed him to develop tremendous market knowledge, exceptional transaction expertise and an extensive investor database that is unparalleled. A candidate to become a Certified Commercial Investment Member (CCIM), Werner’s comprehensive experience allows him to obtain top values for his clients in the acquisition and disposition of their retail properties.
About Hanley Brown Group Real Estate Advisors
Hanley Brown Group Real Estate Advisors is one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of retail shopping centers. Based in Irvine, California, Hanley Brown Group is led by long-time industry veterans Edward B. Hanley and Gregory S. Brown, both designated CCIMs. As specialists in the sale of retail properties, Hanley Brown Group has earned a lasting reputation for its successful track record, investment expertise, dedication and integrity. For more information, visit the Company’s website at www.hanleybrown.com or call (949) 585-7610.
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