Redondo Beach Single-Tenant Salon Suite Fetches Record Pricing
Hanley Investment Group has arranged the $6.3 million sale of a single-tenant, net-leased retail asset occupied by Phenix Salon Suites in Redondo Beach, CA. According to the firm’s Executive Vice President Bill Asher, the sale represented record pricing for a single-tenant salon suite concept nationwide. The buyer was a private Manhattan Beach, CA investor.
“Buyers were attracted to the rare opportunity to own a coastal single-tenant retail investment with a long-term triple-net lease. The property occupied by a successful Phenix Salon Suites also represented a unique investment opportunity not frequently seen for sale,” said Asher who represented the seller for Hanley Investment Group along with Executive VP Jeff Lefko.
The property is located on a 1/2 acre parcel at 609 N. Pacific Coast Highway. Phenix Salon Suites offers an opportunity for salon and lifestyle professionals to operate their own business in a private suite within a larger, well-located salon.
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.