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Hanley Closes Pair of Single-Tenant Sales in Imperial Valley
Hanley Investment Group Real Estate Advisors arranged the sale of two new construction single-tenant net-leased retail investments to two different buyers as part of a break-up sale strategy at a new retail development in Southern California’s Imperial Valley.
The two buildings, which totaled 7,519 square feet and were leased by Starbucks Drive-Thru and the United States Postal Office, sold for a combined total of $5.81 million. EVPs Bill Asher and Jeff Lefko represented the seller and developer, San Diego-based 5th Street Development LLC, in both transactions.
In the first transaction, Asher and Lefko arranged the sale of a 2,089-square-foot building located at 802 N. Imperial Ave. in Imperial. In the second, they finalized the sale of a USPS facility at 820 N. Imperial Avenue in Imperial.
Last year, Asher and Lefko represented the seller and developer in the sale of a new 20-year absolute triple-net ground lease for a new construction McDonald’s adjacent to the USPS building.
- ◦Sale/Acquisition



