NewswireToday - /newswire/ -
Apple Valley, CA, United States, 2010/06/30 - Hanley Investment Group represented the seller in the sale of the fee-simple ownership in the land leased to a single-tenant NNN Red Robin Restaurant at the Jess Ranch Marketplace Phase III in Apple Valley, Calif. The purchase price was $2,275,000.
Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that Edward B. Hanley and William B. Asher represented the seller in the sale of the fee-simple ownership in the land leased to a single-tenant NNN Red Robin Restaurant in Apple Valley, Calif. The purchase price was $2,275,000.
Located in San Bernardino County at 18999 Bear Valley Road in Apple Valley, Red Robin occupies a single-tenant pad building situated within the Jess Ranch Marketplace Phase III, one of the dominant power centers in the region anchored by Best Buy, Bed Bath & Beyond, Cinemark, 24 Hour Fitness and Jack in the Box. Built in 2009, the freestanding 5,532-square-foot building is situated on a 1.21-acre parcel of land.
“Single-tenant NNN retail investments continue to transact with all cash buyers and with the most velocity of any retail asset class in 2010,” said Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors.
“The Red Robin benefits from an outstanding signalized corner location within a power center that features a mix of high quality co-tenants,” said William B. Asher, managing director at Hanley Investment Group. Asher notes the buyer paid all cash.
The buyer, a private investor from Corona, Calif., was represented by James Kwon of Coldwell Banker Best Realty in Fullerton, Calif. The seller was WRI Alliance Riley Venture III of Houston, TX.
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors (hanleyinvestment.com) is a boutique retail investment brokerage firm with a three billion dollar 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 or call (949) 585-7610.