Hanley Brown Group Represent Buyer & Seller in Sale of Grocery/Drug Anchored Shopping Center in Palmdale for $6,975,000

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 buyer and seller in the sale of Palmdale Village Plaza, a Food 4 Less and Rite Aid anchored neighborhood shopping center located in Palmdale, Calif. The purchase price was $6,975,000.

Palmdale Village Plaza is a 100% occupied neighborhood shopping center and includes Food 4 Less, Rite Aid, McDonald’s and Kentucky Fried Chicken (all not a part of the sale).

The offering consisted of 27,455 square feet of shop space on 2.73 acres that included notable tenants H&R Block, Sally Beauty, Subway, and Spudnuts Donuts. Built in 1990, the property is located at the signalized intersection of East Avenue S and 25th Street East in one of the fastest growing areas in Los Angeles County.

“With Food 4 Less recently expanding their store to accommodate the area’s growth, the buyer acquired an outstanding shopping center to satisfy their 1031 exchange requirement,” says Edward Hanley, president of Hanley Brown Group.

The seller was CP Palmdale LLC of San Diego and the buyer was 5210-5211 93rd STREET LLC of Los Angeles.


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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