2021 Lawyers in Real Estate Awards
Last year, the Connect CRE team followed up our well-received Next Generation Awards and Women in Real Estate Awards with the inaugural Lawyers in Real Estate Awards. For...
2021 Women in Real Estate
Announcing the 2021 Winners for the Connect CRE Women in Real Estate Awards.
From hundreds of submissions, we have highlighted women with achievements and...
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry,...
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Ed Hanley of Hanley Investment Group closed 97 sales of retail properties totaling $562 million in 2017. Many of his deals set a new level for pricing in their local markets, and impacted the prices that investors are willing to pay for properties.
For example, he completed the $15-million sale of a rare fee-simple ground lease for 5.32 acres on South Lake Avenue in Pasadena, CA. The ground lies under The Shops on Lake Ave., a 131,153-square-feet retail complex. The buildings revert to the owner of the land once the 61-year ground lease runs out. Bidders submitted more than 20 qualified offers for the land, and the sale closed within 30 days.
Hanley also closed the $2.6-million sale of a newly constructed Starbucks in Redlands, CA, at a 3.76% cap rate. That’s one of the lowest cap rates nationwide for a single-tenant Starbucks, and one of the lowest cap rates for a fee-simple Starbucks in Southern California.