Hanley Investment Group Real Estate Advisors successfully facilitated the sale of a retail and medical building in Aliso Viejo, California. The two-story building spans 24,986 square feet and is located within the popular Aliso Viejo Town Center, a bustling community center spanning 380,000 square feet. This center boasts major anchor tenants such as Ralphs, CVS Pharmacy, Staples,TJ Maxx HomeGoods,PetSmart,and Regal Cinemas.
The property was sold for $9.4 million with Vice President Sean Cox and Executive Vice President Kevin Fryman representing the seller – a private investor from San Francisco. The buyer was represented by Senior Vice President Alton Burgess of Voit Real Estate Services based in Irvine.
Cox stated that they received eight strong offers for the property but ultimately chose to work with a private investor who owned multiple restaurant concepts. He also mentioned that prior to officially putting the property on market for sale,the team advised extending near-term leases and securing new leases to minimize lease rollover risk for potential buyers – thus increasing its value.
The building is situated at 26711Aliso Creek Rd.inAlisoViejoand was constructed in2004.
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