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California  + Orange County  + Retail  | 

Cardenas Markets Store in Whittier Trades for $15M

Corona del Mar-based Hanley Investment Group Real Estate Advisors arranged the sale of a brand-new, single-tenant Cardenas Markets in Whittier for $14,810,250. The deal represents a cap rate of 5.03% for the 34,642-square-foot property at 11750 Whittier Blvd.

The buyer, an undisclosed Los Angeles County private investor, was represented by CBRE’s Gary Stache, Doug Mack, and Chris Martin. Hanley’s Carlos Lopez and Lee Csenar represented the seller, an unnamed Hawaiian private investor.

Lopez says, “Within several weeks of formally marketing the property, we had procured five qualified offers and selected a 1031 buyer who opened escrow non-contingent at approximately 99.4% of the list price and closed escrow in three days to achieve the seller’s goal of a year-end closing for tax benefits and estate planning.”

Ontario, CA-based Cardenas Markets is one of the country’s leading Hispanic grocery chains. The Whittier store, which opened last year on 3.62 acres, was the company’s first Los Angeles area location to open.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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