Hanley Investment Group Real Estate Advisors

Hanley Investment Group Sells Multi-Tenant Retail Strip Center for $3,000,000

Edward B. Hanley and Eric P. Wohl of Hanley Investment Group Real Estate Advisors represented the seller in the sale of Walnut Newport Center, a 9,597 sq.ft. multi-tenant retail strip center located at 13842 Newport Avenue in Tustin, Calif. The purchase price was $2,990,007, representing $312 psf. Built in 1986, the four-tenant strip center is anchored by Blockbuster Video and is situated on a 0.74 acre parcel of land. The center was 100 percent occupied at the time of sale. - February 20, 2010