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Irvine, CA, United States, 2011/06/22 - Carlos J. Lopez and Edward B. Hanley of Hanley Investment Urban Retail Advisors represented the buyer and seller in the sale of a 1,448 sq. ft. individual retail/commercial condominium unit in Irvine, Calif. The price was not disclosed.
Hanley Investment (HI) Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States, announced today that Carlos J. Lopez and Edward B. Hanley, represented the buyer and seller in the sale of a 1,448-square-foot individual retail/commercial condominium unit in Irvine, Calif. The price was not disclosed.
“The demand from investors to purchase retail/commercial condominiums is very strong especially in areas like Irvine,” said Hanley. “During the past decade many cities across the country have completed new urban communities that have produced a rare investment product that has not been available to investors previously.”
The condominium is located at 7020 Scholarship Drive in Irvine. Built in 2007, the property is situated within the high profile mixed-use residential/commercial development known as The Plaza Irvine located at the intersection of Campus Avenue and Jamboree Road on the border of Irvine and Newport Beach. The Plaza Irvine residential and commercial development consists of 202 luxury residences units and an adjacent 12,036-square-foot retail/commercial component.
The buyer was a private investor from Irvine. The seller was Greenlaw Partners, Inc., based in Newport Beach.
“As specialists in the sale of retail condominiums in mixed-use residential/commercial developments in dynamic downtown and urban street retail districts across the U.S., we have assembled an unmatched database of investors specifically seeking these types of investments,” said Lopez, president of HI Urban Retail Advisors. “The retail/commercial condominium niche has grown tremendously in popularity over the years. Through our strategic marketing platform we were able to reach out to those active owners and individual investors actively seeking to acquire this unique product type and procure the right buyer.”
“After marketing the property we found that both U.S. and foreign investors are attracted to urban retail primarily due to their increasing familiarity and comfort level with this type of lifestyle,” Hanley stated. “Despite the challenges the commercial retail market is facing, we are very happy with the activity our marketing produced and expect that urban retail investments will remain in high demand.”
About HI Urban Retail Advisors
HI Urban Retail Advisors is a retail investment division of Hanley Investment Group Real Estate Advisors specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States. Built on unsurpassed dedication and an impressive track record of performance and results, HI Urban Retail Advisors consistently exceeds client expectations through its unparalleled, comprehensive knowledge of urban retail from a national and global perspective.
Whether it is situated in a well-located, dynamic commercial district, or in conjunction with a mixed-use project, urban retail is a very specific product type within the overall retail marketplace. HI Urban Retail Advisors guides clients in attaining the highest returns through its exceptional experience and responsive team that thoroughly comprehends this unique and growing market segment. HI Urban Retail Advisors utilizes its innovative expertise to lead property owners through complex issues relating to land use and the progressive revitalization of high density urban areas to effectively help clients understand the significant characteristics of each urban retail asset and its optimum positioning and value.
HI Urban Retail Advisors (hiurbanretail.com) works closely with investors to develop and maintain long-term relationships and has successfully accumulated a highly targeted database of mixed-use and urban retail property investors and owners from every major urban market in the country that is unmatched in the industry. HI Urban Retail Advisors' concentrated expertise and exclusive focus on mixed-use and urban retail properties translate into measurable results and is the reason that clients rely on HI Urban Retail Advisors to be the most dependable source for valuation services, market information and urban retail investment sales.
About Hanley Investment Group Real Estate Advisors
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 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.