Hanley Investment Group Real Estate Advisors completed the sale of a 12,750-square-foot multi-tenant retail center anchored by Dollar General in Inglewood. The sale price was $4.15 million.
EVPs Kevin Fryman and Carlos Lopez, along with VPs Sean Cox and Alexander Moore, represented the seller, a private investor based in Los Angeles. The buyer, a private 1031 exchange investor from Los Angeles, was represented by Robert Toofer of Exclusive Realty of Los Angeles.
“We procured a private all-cash 1031 exchange buyer acquiring their first shopping center,” Fryman explained. “We negotiated a 16-day due diligence period and a 30-day escrow to provide surety of closing to the seller.”
Built in 1961 and remodeled in 2004, the Dollar General Center sits on 0.68 acres at 1000 S. La Brea Ave. in Inglewood, directly across from El Super Fresh market. The property is fully occupied.
