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Profile Hanley Brown Group
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Profile Hanley Brown Group
Unparalleled Service and Superior Results Built on a solid foundation of performance, integrity and dedication, Hanley Brown Group Real Estate Advisors is a boutique retail investment advisory firm with a $900 million transaction track record. Completing hundreds of shopping center sale transactions, Hanley Brown Group has represented a broad spectrum of institutions, developers and individuals such as Passco Real Estate Enterprises, Hopkins Real Estate Group, Wohl Investment Company and Red Mountain Retail Group to name several. Highly experienced in exclusive seller representation, buyer qualification and representation, offer and sales negotiation, and escrow management, Hanley Brown Group’s recent notable transactions include: In Santa Ana, CA, Hanley Brown Group represented the buyer and seller in February 2006 in the sale of Bristol Place for $25.1 million. Built in 1986, the 62,800 sq.ft. community shopping center is anchored by Target (which was not a part of the offering) and tenants which include: Beneficial, Blockbuster Video, H&R Block, Household Finance, LensCrafters, Payless ShoeSource, Rent-A-Center and Supercuts. Hanley Brown Group represented the buyer, Cadence Capital based in Greenwood, CO. The seller was The Simay Company of Woodland Hills, CA. “The property, which was 100% occupied at the time of sale, is ideally located just north of South Coast Plaza, one of the top grossing regional malls in the nation,” notes Hanley Brown Group’s Eric Wohl. “Bristol Place presented the buyer with the rare opportunity to own a Target-anchored shopping center in Orange County with below market rents,” adds Hanley Brown Group’s president, Edward B. Hanley. In June 2006, Hanley Brown Group brought California capital to Las Vegas and represented the buyer and seller in the sale of Desert Inn Pecos Center in Las Vegas, Nevada. The multi-tenant retail commercial center commanded a purchase price of $11.44 million at a 6.6% cap rate. The 48,172 sq.ft. shopping center was built in 1986 and is anchored by Family Dollar, Nevada Career Institute and Ace Cash Express. Hanley Brown Group again utilized their creative marketing to procure the buyer, a private investor based in Orange County. Hanley Brown Group successfully secured the buyer in 13 days from exclusively listing the property for sale and guided the buyer to a 23-day close which included a 10-day due diligence period. According to Hanley, “This was a great opportunity for a California buyer to acquire a strong retail asset at a high traffic location just three miles east of the Las Vegas Strip. Desert Inn Pecos Center had undergone extensive capital improvements and renovation over the last three years, offering the buyer an attractive asset with minimal deferred maintenance and 96% occupancy.” In July 2006, Hanley Brown Group represented the buyer and seller in the sale of a Jack-in-the Box, a 3,100 sq.ft. single-tenant drive thru in La Mirada, CA for $1.53 million at a 4.5% cap rate. Jack-in-the Box restaurant, located at the signalized entrance to Plaza La Mirada is situated on a .71-acre parcel of land. Built in 2000, the restaurant is co-tenants with Sav-on, 24 Hour Fitness, Subway and Max Muscle. Hanley Brown Group produced ten offers, with multiple offers at list price. Hanley Brown Group helped the buyer, a family trust based in Orange County, finance and close the acquisition in less than three weeks. “The market for single-tenant NNN assets of this type is still very much in high demand,” says Hanley Brown Group’s Kevin Fryman. In September 2006, Hanley Brown Group represented the buyer and seller in the sale of Chapman Heights Shopping Center in Yucaipa, CA for $12.245 million. The 90,369 sq.ft. neighborhood shopping center is anchored by Stater Bros., Rite Aid (not a part of offering), Fitness 19, Goodyear, Radio Shack, Hallmark and UPS Store. Hanley Brown Group closed the transaction on behalf of the buyer, a family trust based in Orange County, and the seller, PASSCO Real Estate Enterprises Inc., an Irvine-based TIC investment/management firm. “The property is ideally located adjacent to thousands of new and soon to be developed homes in the new upscale, master-planned community of Chapman Heights,” says Hanley. Earlier in the year, Hanley Brown Group represented the buyer and seller in the sale of Buena Park Center, a 15,526 sq.ft. shopping center in the City of Buena Park. The purchase price was $5.25 million at a 5.78% cap rate. Built in 1977, Buena Park Center features five tenants in two buildings located at a signalized intersection, adjacent to a drive-thru Burger King that was not a part of the sale. The sale was a direct transaction that never hit the market. “This investment provides the buyer with an exceptional opportunity to own a multi-tenant retail center with upside potential in a prime Orange County in-fill location,” says Jeremy McChesney of Hanley Brown Group. “This transaction represented a historically low cap rate for a multi-tenant center in the City of Buena Park.” Looking ahead, Hanley Brown Group has approximately $200 million in exclusively listed retail properties for sale throughout CA and the Western states. Hanley Brown Group has a total of eight investment specialists with plans to add more professionals over the next 12 months. Hanley Brown Group works closely with individual investors, developers, and institutional property owners. For more information, contact Edward B. Hanley, Hanley Brown Group, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7677; Fax 949-585-7611, Web site: www.hanleybrown.com |