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Follow on Google News | Hanley Investment Group Completes Sale of Raley's-Anchored Shopping Center for $15.1 Mil in UkiahBy: Hanley Investment Group Hanley and Fryman represented the buyer, a private investor in San Pedro, Calif., and the seller, Columbus Pacific Properties of Santa Monica, Calif., in the 1031 exchange transaction. Built in 1986 on 9.78 acres, and remodeled in 2012, Ukiah Crossroads is located at 1307-1399 North State Street and 180-200 Ford Road in Ukiah. The grocery-anchored shopping center is anchored by a 61,046-square- According to Hanley, Ukiah Crossroads benefits from its freeway visible location at the on/off ramp of the 101 Freeway along State Street, the main thoroughfare in Ukiah. Additionally, due to the lack of shopping options in the surrounding cities in Mendocino and Lake counties, which has a combined population of 113,000 people, Ukiah draws customers from a larger trade area than a traditional grocery-anchored center. Hanley Investment Group helped an existing client satisfy their 1031 Exchange requirement," Hanley added, "This transaction is a prime example of how Hanley Investment Group continues to source opportunities that meet our clients' needs." 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. End
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