Hanley Brown Group Represents Buyer in Purchase of Multi-Tenant Strip Center in Fullerton for $2,150,000
January 23, 2006 (PRLEAP.COM) Business NewsIRVINE, 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 and purchase of retail properties, announced today that Joseph Lising of Hanley Brown Group represented the buyer in the purchase of a 13,050-square-foot multi-tenant strip center located at the northeast corner of State College Boulevard and Orangethorpe Avenue in the City of Fullerton, Calif. The purchase price was $2,150,000.
Built in 1964 and renovated in 2003, the single-building property is located on one acre at 2451 E. Orangethorpe Avenue. The center, which consists of five tenants including Subway, caters to the immediate surrounding area and provides the buyer with an outstanding value add investment.
“This property presented the buyer with a tremendous opportunity to acquire a well-located north Orange County shopping center with outstanding upside potential to immediately increase below-market rents,” says Lising.
The seller was a Los Angeles based investor and the buyer was a private investor out of Long Beach.
As a specialist in the sale of investment retail properties for the last seven years, Lising has assisted buyers and sellers throughout Southern California in achieving the best possible value in their acquisitions and dispositions. His creative and energetic approach combined with his extensive investment background and comprehensive retail experience provides added value to all of his client's transactions.
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 and purchase of retail properties. 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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