March 2, 2018 Comments Off on Top Broker Honoree: Hanley Investment’s Ed Hanley Views: 448 National News

Top Broker Honoree: Hanley Investment’s Ed Hanley

Ed Hanley of Hanley Investment Group closed 97 sales of retail properties totaling $562 million in 2017. Many of his deals set a new level for pricing in their local markets, and impacted the prices that investors are willing to pay for properties.

For example, he completed the $15-million sale of a rare fee-simple ground lease for 5.32 acres on South Lake Avenue in Pasadena, CA. The ground lies under The Shops on Lake Ave., a 131,153-square-feet retail complex. The buildings revert to the owner of the land once the 61-year ground lease runs out. Bidders submitted more than 20 qualified offers for the land, and the sale closed within 30 days.

Hanley also closed the $2.6-million sale of a newly constructed Starbucks in Redlands, CA, at a 3.76% cap rate. That’s one of the lowest cap rates nationwide for a single-tenant Starbucks, and one of the lowest cap rates for a fee-simple Starbucks in Southern California.

Meet the Top Brokers

Connect with Hanley


Get CRE News in 150 words

For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson

Tags: , ,

Comments are closed.