Hanley Brown Group Represents Buyer & Seller in the Single Tenant Sale of Washington Mutual in Ontario for $1.8 Million

IRVINE, CA - 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, Gregory Brown and Kevin Fryman of Hanley Brown Group, represented the buyer and seller in the single tenant sale of a new Washington Mutual in Ontario, Calif. The purchase price was approximately $1.8 million.

Built in 2004, Washington Mutual has a 20-year NNN lease and is situated on a 1.09-acre parcel of land at the intersection of Riverside Drive and Archibald Boulevard. Washington Mutual is part of the soon to be developed River Arch Center. Current co-tenants include Walgreens and Archibald’s Restaurant. Starbucks is scheduled to open in the Summer of 2005. The buyer was Erickson Family Partnership. The seller was River Arch Center LLC.

Long-time industry veterans Hanley and Brown left Marcus & Millichap in December 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. Kevin Fryman, also formerly of Marcus & Millichap in Irvine, recently joined the Group and brings four years of investment brokerage experience, specializing in advising his clients on retail acquisition and disposition strategies in the South Bay market.


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.

# # #