Hanley Investment Urban Retail Advisors negotiated the sale of a 55,000-sq.-ft. retail property in Los Angeles for $18.95 million.
The property is located on the ground floor of a mixed-usecalled Market Lofts. The retail building was completed in 2007 and is currently fully occupied. Tenants include Ralphs Fresh Fare, Coffee Bean & Tea Leaf, Quiznos, Robeks, Simply Salad, Supercuts and The UPS Store.
Hanley Investments’ Carlos J. Lopez and Edward B. Hanley represented both parties in the transaction.
In an unrelated transaction, Hanley Investment negotiated the sale of 39 and 43 Colorado Blvd., two landmark retail buildings in Pasadena, Calif. totaling 7,200 sq. ft., for $3.7 million. The transaction closed at a cap rate of 5.95 percent. Carlos J. Lopez, of Hanley Investment Group, represented the seller in the. Hoss McVaugh, of McVaugh & Co., represented the buyer.
Marcus & Millichap Negotiates $12.2M Deal in Connecticut
Marcus & Millichap Real Estate Investment Services negotiated the sale of Mattatuck Plaza, a 146,930-sq.-ft. community center in Waterbury, Conn. to a Florida-based private investor for $12.2 million or $83 per sq. ft.
Tenants at the center include Big Lots, Savers, Harbor Freight, Dollar Tree, Chuck E. Cheese and Rainbow.
Joseph French and Thomas Dalzell, of Marcus & Millichap, represented both parties in the transaction.
Other Notable Deals
Marcus & Millichap Capital Corp. arranged a $6 million bridge loan to refinance strip center in Westminster, Calif. The loan features a 6 percent rate, a five-year term, a 25-year amortization schedule and LTV of 65 percent. Dillon Renn negotiated this transaction.
The Shopping Center Group negotiated the sale of Roswell Plaza, a 47,486-sq.-ft. shopping center in Roswell, Ga., for $3 million. Neal Pringle and Mark Cooley, of The Shopping Center Group, represented the buyer in the transaction.