Hanley Brown Group Represents Seller in the Single Tenant Sale of Alberto’s Mexican Restaurant in Bakersfield, CA

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 Edward B. Hanley of Hanley Brown Group represented the seller in the single tenant sale of an Alberto’s Mexican Restaurant in Bakersfield, California. The purchase price was $1,000,000.

Built in 1970 and renovated in 2003, the 3,287-square-foot building is situated on a .45-acre parcel of land at the intersection of Columbus Street and Mount Vernon Avenue in Bakersfield. The subject property features a NNN 10-year lease and is part of a neighborhood shopping center anchored by Longs Drugs and 99 Cents Only store.

“The buyer fulfilled a 1031 exchange requirement from the sale of apartments, a trend we continue to see with multi-family owners crossing over to Single Tenant NNN retail assets that have a solid return, and little or no management responsibility,” says Hanley.

The buyer was a private investor in Northern California and was represented by Catherine Zhang of Prudential California Realty of El Cerrito, CA. The seller was Alberto’s I LLC of Santa Ana, CA.


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.