Hanley Investment Group Arranges Sale of Single-Tenant NNN Harbor Freight Tools in Northern Los Angeles County

Harbor Freight Tools is the leading discount tool retailer in the U.S with over 800 stores

PALMDALE, Calif. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Executive Vice President Jeremy McChesney has completed the sale of a 24,695-square-foot single-tenant net-leased retail property occupied by Harbor Freight Tools at 2101 East Palmdale Boulevard in Palmdale, California. The purchase price was $2.65 million.

Harbor Freight

Founded in 1977, Harbor Freight Tools is the leading discount tool retailer in the U.S. selling great quality tools at “ridiculously low prices” in over 800+ stores nationwide and on its website www.harborfreight.com. Harbor Freight Tools stocks over 7,000 items in categories including automotive, air and power tools, shop equipment and hand tools.

The buyer, a private investor from Newport Beach, California, was represented by Senior Vice President Mehran Foroughi of Colliers International in Irvine, California. The seller, Sage Investco also from Newport Beach, was represented by McChesney.

Built in 1957 and recently renovated, the 1.24-acre site is located at the signalized intersection of Palmdale Boulevard and 20th Street East, both major thoroughfares. “This single-tenant net-leased investment offers minimal landlord maintenance responsibilities,” McChesney said. “Harbor Freight Tool has shown a strong commitment to the site recently investing over $750,000 in tenant improvements dollars.”

According to McChesney, Harbor Freight Tools has over 11 years remaining on the primary lease term with 10 percent rental increases and multiple five-year options.

McChesney current has additional single-tenant net-lease investments available for sale including Starbucks, 7-Elevens, Circle Ks, Auto Parts Stores, and Fast Food Restaurants.

About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.

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Hanley Investment Group

Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment brokerage firm with a three billion dollar 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.

Contact:

Phone: (949) 585-7610

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