Hanley Investment Completes $33M Inland Empire Retail Sale

President Ed Hanley, along with Executive Vice Presidents Bill Asher and Jeff Lefko, represented the seller.
Eastvale Marketplace. Image courtesy of Hanley Investment Group

Hanley Investment Group has arranged the sale of five retail buildings at Eastvale Marketplace, a grocery-anchored shopping center in the Inland Empire. President Ed Hanley, along with Executive Vice Presidents Bill Asher and Jeff Lefko, represented seller Evergreen in the $33 million transaction. In January, the same team assisted in the $10 million disposition of a single-tenant, net-leased retail property in Spokane, Wash.

The properties, located 2 miles west of Interstate 15 at 13334-13394 Limonite Ave. in Eastvale, Calif., total approximately 57,000 square feet and include a Smart & Final Extra! grocery store, two multi-tenant structures and two fast-food restaurants. The buyers—four separate private investors—acquired the buildings through 1031 exchanges.

Tom Carosella of Carosella Properties represented the buyer of the Smart & Final Extra! and an 8,762-square-foot multi-tenant building, while NKF’s David Lachoff assisted Gershman Properties in its acquisition of the other, 12,000-square-foot multi-tenant building. The restaurants changed hands in two separate transactions.

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