Hanley Investment Group Completes $12M Bend Retail Center Sale

Retail specialist Hanley Investment Group Real Estate Advisors has completed the sale of two retail properties at the Bend River Village in Bend, OR. The fully occupied net-leased investments totaling 27,000 square feet, sold for a combined $12 million in two different 1031 exchange transactions.

One property includes a Petco store and a freestanding, two-tenant retail pad occupied by Companion Pet Clinic and U.S. Cellular while the other is a two-tenant pad occupied by Aspen Dental and America’s Best Contacts & Eyeglasses.

Hanley Investment Group’s Beau Velten, Jeff Lefko, Bill Asher and Eric Wohl, in association with ParaSell, Inc., procured the buyers in both transactions. 

“By selling the parcels separately, rather than the shopping center as a whole, we were able to realize over $1.5 million in additional value for the seller,” said Velten, while Lefko added, “Demand from 1031 exchange buyers for single-tenant and multi-tenant retail pad assets across the country has not let up.”