Hanley Brown Group of Irvine Represents Buyer in the Purchase of Shopping Center in Hesperia (San Bernardino County) for $8 Million

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 buyers and sellers in the sale of retail shopping centers, announced today Edward Hanley and Gregory Brown of Hanley Brown Group represented the buyer in the purchase of Hesperia Square, a 106,778-square-foot grocery anchored shopping center in Hesperia, California. The purchase price was approximately $8 million.

Built in 1982, Hesperia Square is situated in the High Desert region of Southern California, at the northwest corner of Main Street and I Avenue. Well positioned within its trade area, Hesperia Square includes significant tenants Vons, Round Table Pizza and Firestone Tires.

Hesperia Square was 70% leased at the time of the purchase and represents a value added opportunity for the buyer, Westland Industries. The seller, McMorgan & Company, was represented by Brad Umansky of Sperry Van Ness in Ontario.

Long-time industry veterans Hanley and Brown recently left Marcus & Millichap to launch Hanley Brown Group Real Estate Advisors in Irvine. 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.