Hanley Investment Group Real Estate Advisors has successfully completed the sale of two single-tenant properties at Antelope Valley Plaza in Lancaster. The shopping center, anchored by a grocery store and drugstore, spans 127,000 square feet. The combined sale price for both properties was $11.38 million.
The seller, PacWest Management Inc., partnered with Evergreen Development Company and was represented by VP Sean Cox, EVP Bill Asher, VP Alexander Moore and EVP Kevin Fryman in the transactions. Two individual private buyers participated in separate 1031 exchanges to purchase these properties.
According to Cox: “We received eight competitive offers from qualified buyers for the Smart & Final Extra! property which spans 32,200 square feet.” He also mentioned that they were able to secure a buyer who wanted to close before year-end through their efforts. For dd’s Discounts property as well Hanley procured an all-cash Southern California-based buyer who had other investments in Lancaster already.
