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California  + Inland Empire  + Retail  | 

Phillips Edison Divests Corona Shopping Center Anchored by Ralphs, Dollar Tree

Hanley Investment Group Real Estate Advisors arranged the sale of Sierra del Oro Towne Centre, a 100%-occupied, 110,485-square-foot shopping center anchored by Ralphs and Dollar Tree in Corona. The sale price was not disclosed. It’s Hanley Investment Group’s sixth grocery-anchored shopping center sale over the past 12 months.

EVP Kevin Fryman and president Ed Hanley represented the seller, Phillips Edison & Company, Inc. The buyer, a private 1031 exchange investor based in Northern California, was represented by Jesse Millman of Newmark.

In 2017, Hanley Investment Group represented Cornerstone Development Partners of Irvine in the sale of Sierra del Oro Towne Centre, when Phillips Edison was the buyer.

“We secured a private all-cash 1031 exchange buyer who had recently sold their property to a land developer,” said Fryman. “We negotiated an expedited due diligence and closing timeline to provide the seller with certainty of execution.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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