Moreno Valley Plaza in So. Calif. Sold for $29 Million — Hanley Brown Group and Marcus & Millichap Represent Both Buyer & Seller

Hanley Brown Group, 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 Hanley and Gregory Brown of Hanley Brown Group and Alan Krueger, a Senior Investment Associate at Marcus & Millichap in Ontario, represented the buyer and seller in the sale of Moreno Valley Plaza, a 342,494-square-foot community shopping center in Moreno Valley, Calif. The purchase price was approximately $29 million.

Located just south of the Moreno Valley (I-60) Freeway on the southwest corner of Heacock Street and Sunnymead Boulevard, Moreno Valley Plaza includes approximately 75 tenants anchored by Office Depot, Big Lots, Jo-Ann Fabrics, Factory 2-U, Big 5 Sporting Goods, and Leslie's Pool Supplies.

The buyer was Cannon Commercial, Inc. of Los Angeles, CA. The seller was PASSCO Real Estate Enterprises, Inc. of Irvine, Calif.

Long-time industry veterans Hanley and Brown recently left Marcus & Millichap in Irvine to launch Hanley Brown Group Real Estate Advisors. At Marcus & Millichap, Brown and Hanley were consistently ranked as one of the top five brokers in the firm's Irvine office from 1999-2004 and served as Senior Directors of Marcus & Millichap's National Retail Group.


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.