Hanley Investment Group Sells Two Centers for $9 Million

by Nate Hunter

Irvine, Calif. — Seven properties sold in the past 6 months add up to $35 million.

Chipotle Mexican Grill is a tenant in the recently sold Marketplace on Hamner in Norco, Calif.Irvine, Calif.  — Hanley Investment Group Real Estate Advisors has sold two multi-tenant strip centers in the Inland Empire for more than $9 million.

In the past six months, Hanley Investment Group has sold a total of seven retail properties in the same area valued at $35 million. In the first transaction that sold Marketplace on Hamner in Norco, Calif., William B. Asher and Patrick G. Kent represented the seller, Marketplace on Hamner LLC.

The buyer, Agins Development Corporation of Corona, Calif., was represented by Woodrow Harpole of Calvert Properties. The center is a 12,835-square-foot multi-tenant strip center that was purchased for $5 million. Tenants include Chipotle Mexican Grill, Sprint, Magic Wok and Palm Beach Tan.

The second center, Winston Plaza in Lake Elsinore, Calif., was purchased for $4.3 million. It is a two-building retail center that was 95 percent occupied at the time of sale. The buyer, Fan Family Trust, of La Habra, Calif., was represented by Richard Lee of R&L Properties-Cerritos Inc. in Corona, Calif. The seller was Palm Lake Properties, LLC in Irvine, Calif. Asher and Jeremy S. McChesney represented the seller in the sale of Winston Plaza.

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