Hanley Arranges Sale of CA Shopping Center

La Verne Courtyard, an 84,368-square-foot property anchored by ALDI and Orchard Supply Hardware, sold for $20.7 million.
La Verne Courtyard, La Verne, Calif.

Hanley Investment Group Real Estate Advisors has completed the sale of La Verne Courtyard, an ALDI and Orchard Supply Hardware-anchored shopping center in La Verne, Calif. The property sold for $20.7 million, according to public records.

Located at 2204–2278 Foothill Blvd., the 84,368-square-foot asset was built in 2000. Situated on 7.3 acres, other major tenants of the shopping center include Jersey Mike’s Subs, OneMain Financial, Rubio’s, Pacific Dental and Pizza Hut.

“This sale highlights the continued demand for well-located grocery-anchored shopping centers leased to internet-resistant tenants,” said Bill Asher of Hanley Investment Group, in a prepared statement. “We sourced the buyer through a Hanley Investment Group broker relationship and helped the broker and their client procure a multi-tenant shopping center investment their client had been seeking after owning mostly a portfolio of single-tenant net leased assets.”

Brokerage teams

President Ed Hanley and Executive Vice Presidents Asher and Kevin Fryman represented the seller, a private investor. The buyer, also a private investor, was represented by Wendy Wong and Katherine Quach of Treelane Realty Group.

Image courtesy of Hanley Investment Group Real Estate Advisors