SRS Real Estate Closes Orange County Retail Sale
- Mar 31, 2020
SunCoast Properties has completed the $5.1 million sale of a single-tenant retail asset in Anaheim, Calif. Hanley Investment Group secured the deal on behalf of the buyer, a Los Angeles-based private investor. SRS Real Estate Partners represented the seller.
The 3,988-square-foot Chase Bank building opened earlier this year and features a drive-thru ATM. Located at 545 N. Euclid St. on 0.5 acres, the property is at a shared signalized intersection with Anaheim Plaza. The bank is 2 miles northwest of Disneyland Park and Resort and near various tourist destinations. More than 700,000 residents earning an average household income of $87,000 live within a 5-mile radius, according to Hanley Investment Group data.
The SRS Real Estate Partners team representing the seller included Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter. The Hanley Investment Group team working on behalf of the buyer included Executive Vice Presidents Bill Asher and Jeff Lefko.
Earlier this year, Hanley Investment Group closed the sale of a two-building retail asset for $8 million. The all-cash sale marks the highest cost and cap rate for an Inland Empire two-tenant investment priced above $5 million.