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PRZOOM - /newswire/ -
Rancho Cucamonga, CA, United States, 07/13/2010 - Edward B. Hanley of Hanley Investment Group represented the seller in the sale of the fee-simple ownership in the land leased to a single-tenant NNN Del Taco at 6341 Haven Avenue in Rancho Cucamonga, Calif. The purchase price was $1,460,000.
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Hanley Investment Group Real Estate Advisors of Irvine, Calif., 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 represented the seller in the sale of the fee-simple ownership in the land leased to a single-tenant NNN Del Taco in Rancho Cucamonga, Calif. The purchase price was $1,460,000.
Located in San Bernardino County at 6341 Haven Avenue in Rancho Cucamonga, Del Taco occupies a single-tenant pad building situated within Haven Village, a dominant neighborhood shopping center in the area anchored by Vons, Trader Joe's, McDonald’s, Edward Jones, Subway and Yogurberry. Built in 2004, the freestanding 2,200-square-foot building is situated on a 0.41-acre parcel of land and was 100% occupied at the time of sale.
“Through Hanley Investment Group’s strategic marketing efforts, over ten qualified buyers submitted offers to purchase the property,” said Edward B. Hanley, president of Hanley Investment Group Real Estate Advisors. “It clearly shows the high demand for well located single-tenant fast-food investments.”
Hanley notes, “Even though the demand for single-tenant assets like this Del Taco remains very healthy, approximately half of the offers generated were unable to secure the financing they were looking for due to more strict underwriting guidelines from lenders offering financing in today’s market.”
The buyer, Sylvia W. Augustine Family Trust of San Diego, Calif., was represented by Brian Somoza of Marcus & Millichap in Irvine, Calif. The seller was Cadence Capital Investments, LLC of Greenwood Village, Colo.
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.
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