Hanley Investment Group Represents Buyer & Seller in the Sale of $16.1 Million Neighborhood Shopping Center in Lompoc, Calif.

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 Eric L. Werner and Kevin T. Fryman of Hanley Investment Group represented the buyer and seller in the sale of a grocery anchored neighborhood shopping center in Lompoc, Calif. for $16,100,000.

Situated at the signalized intersection of Central Avenue and L Street, Lompoc Corners is a 96,648-square-foot neighborhood shopping center anchored by Wal-Mart (not a part of the sale), Foods Co. (Kroger), Kragen Auto, Hollywood Video, Rent-A-Center, Dollar Tree, Wells Fargo Bank, Payless Shoes, Quiznos, Curves and Sally Beauty. The property was 100% occupied at the close of escrow. Built in 2000, Lompoc Corners is situated on 9.04 acres and is located within Santa Barbara County.

The buyer was a private partnership from Los Angeles, Calif. The seller was Bascal Properties-II, a Delaware limited liability company based in Los Angeles, Calif.

“We identified the buyer capable of evaluating the property quickly, which was significant in facilitating the sale to meet the seller’s investment goals,” says Eric L. Werner, senior associate at Hanley Investment Group Real Estate Advisors. “The seller’s ability to expedite the defeasance of an existing loan on the property in a short time-frame, combined with the buyer’s ability to pay all cash and close in 14 days, helped achieve both parties’ investment objectives.”

“It is becoming more challenging to find quality grocery anchored shopping centers for sale in today's market," says Kevin T. Fryman, senior associate at Hanley Investment Group Real Estate Advisors. "The buyer had been looking for a grocery anchored shopping center in California for weeks prior to us presenting Lompoc Corners. The property is the dominant shopping center in the area, features 95% credit tenancy, a long-term lease from anchor tenant Kroger, and tremendous draw from Wal-Mart. The buyer was very pleased with the acquisition, which was an ideal match for their investment criteria.”

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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