Hanley Investment Group Real Estate Advisors completed the sale of a single-tenant Smart & Final Extra! and a single-tenant dd’s Discounts at the Antelope Valley Plaza, a 127,000-square-foot grocery- and drugstore-anchored shopping center in Lancaster. The properties were purchased by two individual private 1031 exchange buyers in separate transactions, with a combined sale price of $11.38 million.
VP Sean Cox, EVP Bill Asher, VP Alexander Moore and EVP Kevin Fryman represented the seller, PacWest Management Inc., in partnership with Evergreen Development Company, for the sale of the single-tenant Smart & Final Extra! property. The team also represented PacWest Management in the sale of dd’s Discounts.
“We generated eight competitive and qualified offers for the single-tenant, 32,200-square-foot Smart & Final-occupied property and procured a Los Angeles-based 1031 exchange buyer seeking a year-end closing,” said. For the dd’s Discounts property, Hanley procured an all-cash Southern California-based 1031 exchange buyer who owned other properties in Lancaster.
