Four Southern California Retail Property Sales Totaling 61,444 Square Feet Trade for Over $32 Million
Introduction to Retail Properties in Southern California
Just recently, Hanley Investment Group Real Estate Advisors, a leading real estate brokerage specializing in retail property sales, announced the successful sale of four retail properties in Southern California. These assets, totaling 61,444 square feet, were sold individually, allowing the Orange County-based seller to optimize pricing through a targeted break-up strategy. The total transaction value exceeded $32 million, showcasing the sustained interest and demand for well-located retail properties in the region.
Understanding the Market Dynamics
The sale of these properties highlights the ongoing vitality of private capital in the Southern California retail market. As the Executive Vice President of Hanley Investment Group, Kevin Fryman noted, the demand remains robust, particularly for well-positioned retail pads and neighborhood strip centers. The firm utilized a strategic approach to market each asset individually, emphasizing their unique strengths. This strategy not only attracted multiple offers but also fostered competitive bidding, which ultimately led to premium sale prices for the properties.
Spotlight on Orange Town & Country
Among the transactions was the sale of the Orange Town & Country property in Orange, California, which fetched $9.78 million. This diverse 13,730-square-foot, five-tenant pad building has maintained its full occupancy, hosting notable tenants such as Men’s Wearhouse and Massage Envy. Built in 1998 and located near the bustling MainPlace Mall, the property benefits from high traffic levels—over 60,000 vehicles daily—and appeals to a growing clientele in a demographic with an average household income of $127,000 within a five-mile radius. The strategic positioning of this asset contributed significantly to its allure, facilitating a quick sale through competitive bidding.
Murrieta’s High-Visibility Pads
Another highlight was the sale of two pads totaling 17,100 square feet at Winchester Road in Murrieta. This property, sold for $8.12 million, includes a well-performing McDonald’s with a double drive-thru and a multi-tenant building that houses six different businesses. The location’s visibility, combined with its adjacency to a high-performing Albertsons, made it a prime investment opportunity. This deal was characterized by its all-cash buyer, a private investor from St. Louis, who appreciated the growth potential of the site, ensuring a swift and decisive closing.
The Glendora Strip Center Transaction
The third property, an 18,050-square-foot strip center in Glendora, changed hands for $5.85 million. This multi-building center, fully leased with reliable tenants such as Spectrum and Subway—two tenants with lengthy histories at the location—offers stability to investors. Situated along the high-traffic Historic Route 66 corridor, the property has shown consistent occupancy over the years. The competitive bidding process for this asset underscored its appeal, particularly to local buyers familiar with the strip center’s value and revenue potential.
Perris Marketplace’s Retail Pad Sale
Lastly, the sale of a 12,564-square-foot pad building in Perris for over $8.28 million exemplifies the continued demand for retail spaces adjacent to successful supermarkets. This modern property is occupied by well-known national brands, including Verizon and Baskin Robbins, which adds to its attractiveness. Located next to a top-performing Walmart Supercenter, this asset benefits from a strong consumer base and a thriving trade area. Hanley Investment Group’s comprehensive marketing drew multiple qualified offers, ensuring a competitive sale price that met the seller’s expectations.
Conclusion: The Future Outlook for Retail Investments
The completed sales reflect not just the strength of the retail market in Southern California but also the effectiveness of Hanley Investment Group’s strategic marketing approach. By isolating the unique strengths of each asset, the firm was able to attract ideal buyers and deliver impressive results for their client. In conclusion, the success of these transactions demonstrates that interest in quality retail properties remains high, with private investors seeing the value and potential returns offered by well-positioned assets. For more details on Hanley Investment Group and their services, visit their website.
This article is based on reporting from theregistrysocal.com.
The original version of the story can be found on their website.
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