Hanley Investment Group Reports Record Number of Transactions and Sales Volume in the First Half of 2022
By: AB Newswire
August 04, 2022 at 07:00 AM EDT
CORONA DEL MAR, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the company closed out the first half of 2022 with a record number of both sales volume and number of transactions. Many of the transactions closed at record pricing and record-low cap rates. The company also launched a new website -- www.hanleyinvestment.com -- in the first half of 2022 with the continued goal of improving user experience and ease of access to all available listings.
Hanley Investment Group procured two individual 1031 exchange buyers for the sale of a separately parceled shopping center anchored by a high-performing Petco in Bend, Oregon. By selling the parcels separately rather than the shopping center as a whole, Hanley Investment Group realized $1,500,000 in additional value for the seller.
The demand for single-tenant net-leased grocery stores has remained strong. Hanley Investment Group recently arranged the sales of four Grocery Outlet stores in California, all at sub-5% cap rate prices. Hanley Investment Group also generated 16 qualified offers for a Cardenas Markets in San Bernardino, California and secured a Southern California-based 1031 exchange buyer late in their identification period who exceeded the asking price and closed escrow at a record-low cap rate for a single-tenant Cardenas Markets in the U.S.
Hanley Investment Group is seeing continued demand for single-tenant car washes as buyers looked to take advantage of the bonus tax depreciation benefits. According to Hanley Investment Group's Executive Vice President Jeff Lefko, there are over 700 express car washes under construction across the U.S.; industry experts estimate that even with all of these locations set to open, there is still a need for more new construction sites. Not only have cap rates compressed, but car wash business values/multiples are at an all-time high, especially for tenants that have scale; in many cases, the business is now worth the same if not more than the real estate, which is something that you don’t always see in net-leased real estate, Lefko noted.
The demand for single-tenant net-leased retail investments occupied by a successful national credit quick-service restaurant with a drive-thru continues to remain strong. Hanley Investment Group, in association with Progressive Real Estate Partners, recently procured an all-cash 1031 exchange buyer that closed at 100% of the asking price shortly after KFC opened for business and started paying rent. Located in Perris, California, the closing cap rate represented a record-low cap rate for a single-tenant KFC in the Inland Empire.
Hanley Investment Group has completed the sale (or has in escrow) $70 million in single-tenant learning and childcare-leased properties across the country over the last 12 months. The properties are leased to Kiddie Academy, The Learning Experience and O2B Kids! ranging from one-unit operators to large corporate guarantees.
Hanley Investment Group arranged the full-price sale of a two-tenant, 11,400-square-foot retail center in Zionsville, Indiana, an affluent Indianapolis suburb. Hanley Investment Group generated six offers in the first 10 days of marketing, before selecting a full-price offer from a local Indianapolis investor, noted Hanley Investment Group's Vice President Dylan Mallory. The sale price was $3,145,000.
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $9.3 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.