November 20, 2015 Comments Off on Hanley Investment Brokers Riverside County Retail Sale Views: 351 California News, Inland Empire

Hanley Investment Brokers Riverside County Retail Sale

Hemet Plaza, a 58,035-square-foot shopping center in Riverside County, with a True Value hardware store and Big Lots nearby, recently traded between two private investors. The deal was brokered by Hanley Investment Group Real Estate Advisors and was valued at just under $5.6 million, with a cap rate of 6.3%.

Pat Kent, a senior vice president at Hanley Investment, arranged the deal for both the buyer and seller. He noted that city of Hemet has a 500,000 square foot mixed-used property in the works, further supporting the demand for additional real estate in the area.

The new owner has the option to expand the property, among other value-add opportunities, Kent said.

Connect With Hanley’s Kent

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.