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Hanley Investment Group Sells 2 Single-Tenant NNN Hollywood Videos in Riverside County for $4.5 Mil
Hanley Investment Group Real Estate Advisors negotiated the sales of two single-tenant NNN Hollywood Video buildings in Riverside County for a total consideration of $4,545,600.
Eric L. Werner of Hanley Investment Group represented the seller in the sale of a single-tenant Hollywood Video in San Jacinto, Calif. The purchase price was $2,435,600, representing a 6.40% cap rate.
Hollywood Video, which is located at 1579 S. San Jacinto Avenue at the signalized intersection of S. San Jacinto Avenue and Esplanade Avenue, is situated on a .79-acre parcel of land with five years remaining on its initial lease term. Built in 1997, Hollywood Video occupies a 7,854-square-
The buyer, Arkiva, LLC of Mission Viejo, Calif., was represented by Ron Novini of Consolidated Capital Investments in Santa Ana, Calif. The seller was Clock Investments, LLC of Tiburon, Calif.
“The buyer acquired a great piece of real estate ideally positioned in a pad location to a dominant neighborhood shopping center benefiting from outstanding customer traffic generated by credit tenants Stater Bros., Regal Cinemas, Rite Aid and Burger King,” says Eric Werner, senior associate at Hanley Investment Group.
Werner teamed up with Kevin T. Fryman of Hanley Investment Group to represent the buyer and seller in the sale of a single-tenant Hollywood Video located at 2560 N. Perris Boulevard in Perris, Calif. The purchase price was $2,110,000, representing a 6.50% cap rate.
Located at the signalized intersection of Perris Boulevard and Orange Avenue, Hollywood Video is situated on a .88-acre parcel of land with four years remaining on its initial lease term. Built in 1996, Hollywood Video occupies a 7,040-square-
The buyer was a private investor based in Los Angeles, Calif. The seller was EMIC Properties in Sausalito, Calif.
“We generated multiple offers and it was very clear that the appeal of this property was Wal-Mart as the anchor tenant of the center, as well as the way the property was situated at the entrance and signal to the entire shopping center,” says Kevin Fryman, senior associate at Hanley Investment Group.
Hanley Investment Group’s Senior Associate Eric Werner notes that this was the fifth and sixth Hollywood Video transactions Hanley Investment Group has closed in the last year. “Hanley Investment Group’s extensive experience in selling properties occupied by Hollywood Video was significant in obtaining top dollar for the sellers of each asset and successfully guiding both buyers through each transaction and understanding each property’s upside potential,” says Werner.
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a $1 billion 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. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.
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Eric L. Werner
Hanley Investment Group
Real Estate Advisors
2569 McCabe Way, Suite 100
Irvine, California 92614