Commercial

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 Eric Wohl negotiated the sale of a 6,786-square-foot multi-tenant retail pad to a new Walmart Supercenter in Ontario, Calif. The sale price of $5,968,800, representing a cap rate of 5.02% and $880 per square foot, achieves a record low cap rate and the highest price per square foot for a multi-tenant pad building shadow anchored by Walmart in California, according to CoStar.

Meridian, a full service real estate developer and owner of general and medical office real estate, is pleased to announce that it has closed escrow on the sale of its 74,000-square-foot multi-tenant office building located in Alameda County at 5776 Stoneridge Mall Road in Pleasanton, Calif. The building is popularly known as “The Atrium.” The sale price was $15.5 million, representing a cap rate of just under 7.0%.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant US Bank office property located at 615 East Michigan Street in Milwaukee, WI for $14,000,000.

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Senior Vice President Jeremy McChesney completed the sale of a brand new construction single-tenant absolute triple-net Black Bear Diner in Orange County, Calif. The purchase price was $3,295,000, representing a 4.40% cap rate.

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Dollar Store Market

Planet Home Living is pleased to announce another new community coming soon. COVO in Silver Lake, the heart of LA’s trendy Eastside, will fit the needs of modern, urban homeowners. “Due to its modern design and popular location in Silver Lake, we are anticipating high demand at COVO similar to what was experienced at Prism, our community that opened in early 2016 and sold out in the matter of weeks,” said Planet Home Living COO David French

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 4180 University Parkway in Natchitoches, LA for $1,362,000.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Starbucks ground lease located at 103 Mitchell Drive in Hendersonville, NC for $2,250,000.

CBRE Executive Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and their National Retail Investment Group – West (NRIG-West) team completed the sale of the Shops at Stonecreek Plaza, a 52,171-square-foot strip center in the city of Los Banos, Calif., leased to a synergistic mix of regional and local tenants including Petco, Famous Footwear, Dollar Tree, GNC, Metro PCS, Wingstop and a drive-thru Starbucks. The sale price was $12 million, representing a 7.1% cap rate

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Voit Real Estate Services, announced today that the two firms completed the sale of a single-tenant net-leased coastal property occupied by Petco at 537 North Pacific Coast Highway in Redondo Beach, Calif. The sales price of $7,630,000 represented a cap rate of 4.5%, a record low cap rate for a single-tenant Petco in Los Angeles County.

International award-winning KTGY Architecture + Planning announced today that it has been selected by Orange County-based Civic Partners as the designer of Artisan Alley at The Diamond, a unique retail development located in western Riverside County in the City of Lake Elsinore, Calif. Conveniently located across the street from the Lake Elsinore Diamond Stadium, the proposed retail development will bring a creative, commercial destination, which is sure to energize the neighboring area. Capitalizing on the craft brew craze, Artisan Alley will offer a variety of craft breweries as well as complementary non-traditional food offerings and retailers.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Applebee’s Neighborhood Grill & Bar (Applebee’s) property located at 811 S. Irby Street in Florence, SC for $2,050,000. The City of Florence is the largest city in Northeastern South Carolina and was recently named among America’s top fifty cities for business relocation and expansion by Expansion Management Magazine.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant American Mattress located at 751 East Lincoln Highway in New Lenox, IL for $1,545,000. The 4,000 square foot American Mattress building was constructed in 2015 and is located along East Lincoln Highway, the primary east-west thoroughfare in the trade area that connects the property to Interstate 80.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant LabCorp office property located at 150 Spring Lake Drive in Itasca, IL for $6,250,000. Itasca is located in the Chicago MSA west of the Chicago O’Hare International Airport.

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 Eric Wohl negotiated the sale of 51st & Southern, a 15,498-square-foot multi-tenant retail property in the Phoenix metro area. The purchase price was $2,325,000.