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Santa Clarita Retail Draws Bids from Private Investors, REITs
Hanley Investment Group Real Estate Advisors recently completed the sale of Stevenson Ranch Plaza in Santa Clarita. Located at 25804-25860 Hemingway Ave., the 29,817-square-foot neighborhood shopping center features a mix of internet-resistant education, service and restaurant uses, anchored by Tutor Time.
The seller, San Francisco-based Catalyst Real Estate, was represented by Hanley EVP Kevin Fryman, president Ed Hanley and VPs Sean Cox and Alexander Moore. The buyer, a Los Angeles-based private investor, was represented by Edmond Bina, CEO and managing broker of EMB Properties in Beverly Hills.
“We generated multiple offers from both private investors and REITs and ultimately selected a private 1031 exchange buyer,” said Fryman. “Additionally, we collaborated with a mortgage broker to secure favorable financing, ensuring a seamless transaction. Furthermore, we negotiated a short due diligence period and closing extensions to facilitate the seller’s 1031 property identification process.”
Stevenson Ranch Plaza was originally built in 1999 and underwent remodeling in 2023. The shopping center occupies 3.25 acres at the signalized intersection of Stevenson Ranch Parkway and Hemingway Avenue.
- ◦Sale/Acquisition
