Hanley Brown Group Represents Buyer & Seller in $1,585,000 Sale of 7,430 Sq. Ft. Strip Center in Riverside, CA
May 17, 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 of retail shopping centers, announced today Eric Werner of Hanley Brown Group represented the buyer and seller in the sale of a small strip center in Riverside, CA. The purchase price was $1,585,000.
The 7,430-square-foot shopping center, known as Arlington Plaza, is located on the southwest corner of Arlington Avenue and California Avenue at 5300 Arlington Avenue.
The single-building center, which is 90 percent occupied, was built in 1980 and features five tenants including a Conroy’s Flowers at an excellent, highly visible signalized corner location across from Sears and Albertsons/Sav-on.
“This was a great opportunity for the buyer to acquire a strong retail asset at a high traffic location with excellent visibility,” says Werner. “The buyer will also benefit from below-market rents and the high retail demand in this Riverside sub-market.”
The buyer was a private investor based in Los Angeles, CA. The seller was a private investor based in Tucson, Arizona.
Built on a solid foundation of performance, integrity and dedication, Hanley Brown Group Real Estate Advisors is a boutique retail investment advisory firm comprised of a team of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations.
Irvine, CA based Hanley Brown 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 Brown 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 Brown 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.hanleybrown.com or call (949) 585-7610.
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