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Lake Elsinore, Calif. —Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a 3,000-square-foot, single-tenant retail property located in the Inland Empire city of Lake Elsinore. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Devco, in the transaction. Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer, a private investor based in San Bernardino County, California.
Situated as an outpacel within a new Stater Bros.-anchored retail development, the newly constructed retail building is occupied by Pollo Campero on a 15-year absolute triple-net corporate ground lease with 10 percent rental increases every five years.