{"id":1004444851,"date":"2020-05-19T01:05:21","date_gmt":"2020-05-19T09:05:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004444851"},"modified":"2025-02-26T03:20:44","modified_gmt":"2025-02-26T11:20:44","slug":"hanley-investment-closes-southern-california-retail-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hanley-investment-closes-southern-california-retail-sale\/","title":{"rendered":"Hanley Investment Closes Southern California Retail Sale"},"content":{"rendered":"<div id=\"attachment_1004445856\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004445856\" data-attachment-id=\"1004445856\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hanley-investment-closes-southern-california-retail-sale\/961-north-milliken-avenue\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D750&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1571926247&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;160&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"961 North Milliken Avenue\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;961 North Milliken Avenue. Image courtesy of Hanley Investment Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg?w=800\" class=\"wp-image-1004445856 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/961-North-Milliken-Avenue.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004445856\" class=\"wp-caption-text\">961 N. Milliken Ave. <em>Image courtesy of Hanley Investment Group<\/em><\/p><\/div>\n<p>Hanley Investment Group has completed a $4 million, all-cash sale of a two-tenant retail pad property in Ontario, Calif. Executive Vice President Matt Burnett represented both the buyer and seller, two private investors.&nbsp;<\/p>\n<p>The asset traded at a 5.4 percent cap rate, the lowest multi-tenant acquisition yield in the Inland Empire region for a second-generation building in the past year, according to Burnett.&nbsp;<\/p>\n<p>Built in 2002, the 6,300-square-foot building is located on a 1-acre parcel at 961 N. Milliken Ave. The property&#8217;s long-term tenants, Assure Dental and Verizon Wireless, occupy a respective 3,500 and 2,800 square feet under net leases.<\/p>\n<p>The property is shadow-anchored by a Sam&#8217;s Club and is&nbsp;within 35 miles of downtown Los Angeles. The building is at a signalized entrance to the nearby Marketplace at Ontario Center and across from Simon&#8217;s 1.5 million-square-foot Ontario Mills Mall.&nbsp;<\/p>\n<p>Earlier this month, Hanley represented the sellers in the disposition of <a href=\"https:\/\/www.commercialsearch.com\/news\/hanley-investments-brokers-all-cash-retail-sale\/\">two retail properties<\/a> in Knoxville, Tenn., and Somerset, Ky. The assets traded for $7 million in an all-cash deal.<\/p>\n<p><em>If you\u2019d like to be featured in Brokers\u2019 Corner, simply fill in&nbsp;<\/em><a href=\"https:\/\/www.surveymonkey.com\/r\/BrokersCorner\" target=\"_blank\" rel=\"noopener\"><strong><em>our short form<\/em><\/strong><\/a><em>&nbsp;or send your deal to&nbsp;<\/em><a href=\"mailto:deals@cpe-mhn.com\" target=\"_blank\" rel=\"noopener\"><strong><em>deals@cpe-mhn.com<\/em><\/strong><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executive Vice President Matt Burnett represented both buyer and seller in the disposition of the Inland Empire property.<\/p>\n","protected":false},"author":1202,"featured_media":1004365520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,34027,21783,21742,21749,15],"tags":[33902,33061],"class_list":["post-1004444851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-inland-empire","category-investment","category-latest","category-retail","category-west","tag-hanley-investment-group","tag-verizon"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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