Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Huntington Oaks Center, a 250,787-square-foot community shopping center located at the intersection of Route 66 (Huntington Drive) and the Huntington Drive off-ramp of the 210 Freeway, in Monrovia, California. Tenants at the shopping center include Trader Joe’s, Burlington, Marshalls, Crunch Fitness, Kohl’s (not a part of the sale), Chili’s Grill & Bar, Mimi’s Cafe, Chipotle Mexican Grill, and Panda Express. The sale price could not be disclosed.
Huntington Oaks Center, built in 1984, is situated on 22.41 acres at 500-690 West Huntington Drive in Monrovia and is visible from the 210 Freeway. The shopping center was 75% occupied at the time of the sale. Within a five-mile radius, there are 345,000 people with an average household income of $188,000.
Hanley Investment Group represented the seller, a private investor based in Newport Beach, California. The Los Angeles-based buyer represented themselves. According to Hanley Investment Group, the company procured a buyer with whom it had previously executed similar complex transactions and who had strong big-box anchor tenant relationships, providing the seller with surety of closing. Additionally, by demonstrating the future value of leasing up the vacant spaces and implementing a break-up sale strategy to sell the individually parceled buildings, Hanley Investment Group was able to maximize the sale price.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
