Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Hanley Investment Group & Coldwell Banker DuFour Realty Arrange Sale of New STNL ULTA BeautyInvestors still seeking a flight to quality in all markets across the U.S.
Hanley Investment Group Executive Vice President Bill Asher, along with Mike Donnelly at Coldwell Banker DuFour Realty of Chico, Calif., represented the seller, Kitchell Development Company's office in Del Mar, Calif. Cushman & Wakefield Senior Vice President Scott Borgia represented the buyer, Bay Area Properties from Santa Clara, Calif. Newly built and completed in late 2016, the 10,055-square- Hanley Investment Group procured an all-cash 1031 exchange buyer and structured a 30-day escrow with ULTA opening for business just a few weeks prior to closing. "We generated multiple offers in the initial 30 days of marketing, prior to ULTA opening for business, demonstrating that a flight to quality is what investors continue to seek in today's retail investment market," said Asher. Asher continues, "It was clear the location of the building being positioned in front of a successful Costco was a key selling point, along with the city of Chico being ranked #1 in Forbes Magazine's 'Best Places in America.' However, it was important to note the overall strength of ULTA Beauty as a tenant was an important driver. ULTA Beauty is a publicly-traded Fortune 1000 company, with over 900 location across the U.S. and an excellent track record. ULTA Beauty's sales revenue has increased 121 percent since 2011 to $3.9 billion as of 2015." 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 hanleyinvestmentgroup.com. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|