Hanley Investment Group Represents Buyer and Seller in $11,760,000 Sale of Multi-Tenant Shopping Center in Fountain Valley, CA

IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today Edward B. Hanley and Eric P. Wohl of Hanley Investment Group represented the buyer and seller in the sale of a multi-tenant shopping center in Fountain Valley, Calif. The purchase price was $11,760,000 which represented a 6.25% capitalization rate.

The 41,550-square-foot multi-tenant shopping center, known as Harbor Plaza, is located at the high traffic intersection of Harbor Boulevard and Edinger Avenue, 16275-16377 Harbor Boulevard in Fountain Valley. Situated in the heart of central Orange County, the property is situated on 3.95 acres and four buildings and consists of 21 tenants including Sizzler, OC Auto Sound, Priority Staffing, Panda Bowl and Subway. The property was built in 1985, renovated in 2006, and was 97% occupied at the time of sale.

“This was an incredible opportunity to acquire a multi-tenant shopping center with future upside potential in a prime Orange County location,” said Eric Wohl, vice president at Hanley Investment Group. “The buyer has an excellent opportunity to increase below market rents at a property that is in great condition. Even with the recent fluctuation in interest rates, this sale continues to demonstrate that there is still an abundant amount of capital pursuing deals similar to Harbor Plaza, and a high demand for Orange County shopping centers overall.”

“We were able to manage several challenges during escrow including a spike in the 10-year treasury and successfully achieve both the buyer’s and seller’s investment objectives,” said Edward B. Hanley, president of Hanley Investment Group. “We identified another opportunity in Orange County this year that was an ideal fit for the buyer’s investment parameters. The buyer released a non-refundable deposit to the seller in less than a week to secure the deal, and closed the transaction all cash in a very timely manner.”

Hanley notes this was the sixth retail shopping center Hanley Investment Group has closed in Orange County this year for a total consideration of approximately $47 million.

The buyer was Amusement Industry, Inc. based in Long Beach, Calif. The seller was U.N.T. Atia Co., a California Limited Partnership out of Santa Ana, Calif.

Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a $1 billion transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry.

Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.

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