Hanley Investment Group Real Estate Advisors recently completed the sale of Bristol Place, a 61,454-square-foot multi-tenant shopping center shadow-anchored by Target in Santa Ana. Located just half a mile from South Coast Plaza, the property sold for $36.5 million – OC’s highest price since October 2022.
EVPs Matt Burnett and Kevin Fryman along with President Ed Hanley represented the seller – an affiliate of Cadence Capital Investments and Oakwood Real Estate Partners LLC. The buyer was a private investor based in Newport Beach who was represented by Ron Duong of Marcus & Millichap in Irvine.
Fryman noted that 13 qualified offers were received from both private and institutional investors during marketing efforts for this generational asset with strong investment fundamentals: “To provide surety of closing amid volatile debt environment conditions we negotiated that the buyer would waive their contingencies before loan approval.”
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