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.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.