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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 integrated marketing communications roles. He is responsible for Connect’s client content operations and public relations strategy. He is involved in a range of initiatives ranging from content strategy, message development, copywriting, Social Media and content marketing services. Dennis’s communications background in the real estate industry includes working with many of the top real estate firms – from brokerage companies, developers, homebuilders, investors, owners, lawyers, asset advisors, lenders, architects and property management firms. • Marketed more than 1 Billion Square Feet of Office Space • 70,000 Multifamily/Condo Units • 15,000 Single Family Homes • 30 Million Square Feet of Retail Space • Representing Roughly $100 Billion in Investment 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. Dennis’s agency background on integrated communications teams at many reputable agencies and has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. He formerly was President of the Public Relations Society of America’s Los Angeles of public relations professional, and served on the Board of Directors. He also taught a public relations extension course at Loyola Marymount University. Dennis’s 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.

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