Hanley Investment Group and Walseth Investment Company Arrange Sale of 51,312 SF Value-Add Shopping Center in South Orange County, Calif., for $11.63 Million

MISSION VIEJO, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, and Walseth Investment Company, specializing in single-tenant, multi-tenant, sale-lease-back, NNN investments, and land properties nationwide, announced today the completion of the sale of a 51,312-square-foot former Orchard Supply Hardware-anchored shopping center in Mission Viejo, California. The property, located at 24011-24031 Marguerite Parkway, sold for $11.63 million.

Hanley Investment Group's Executive Vice Presidents Kevin Fryman and Bill Asher, along with President Ed Hanley, represented the seller, a private investment company based in the Denver metro area. Walseth Investment Company's President Michael Walseth represented the buyer, an Orange County-based regional grocery store operator.

"We procured multiple competitive offers from private investors, mid-market buyers, and owner/users, ultimately securing an all-cash private buyer," said Fryman. "This transaction involved navigating and resolving several complex challenges."

Walseth adds, "As the user of the space, our buyer was in a unique position to acquire the property and allow the seller the ability to monetize the vacant Lowe's space. A 'win-win' for both parties, maximizing proceeds to the seller, yet allowing the buyer a favorable basis well under replacement cost."

Additionally, Walseth and Fryman successfully negotiated a structured closing to satisfy the buyer's need for the approval of its planned use and enabled the seller to optimize their buyout agreement with Lowe's (Orchard Supply Hardware), which had approximately 12 years remaining on its lease.

The shopping center benefits from its location at a high-traffic, signalized intersection of Marguerite Parkway and Trabuco Road, which sees an average of 34,000 vehicles per day. Marguerite Parkway serves as a major arterial route connecting to and from the I-5 freeway and various parts of Mission Viejo.

Situated on a 3.42-acre parcel, the shopping center was built in 1973 and underwent a facade remodel in 2016. The 37,118-square-foot vacant Orchard Supply Hardware store comprises over 72% of the center's total square footage. Current tenants include A Cut Above, Little Caesars, and Leslie's Pool Supplies, all of whom have occupied the center for at least 10 years. Notably, Little Caesars and Leslie's Pool Supplies have been tenants for 31 and 34 years, respectively, underscoring the center's established presence.

Mission Viejo, an 11,000-acre upscale city in South Orange County's Saddleback Valley, is located approximately one hour southeast of Los Angeles. The demographics within a five-mile radius of the shopping center are strong, featuring over 340,000 people with an average household income of $154,000. As one of the largest master-planned communities ever undertaken in a single project, Mission Viejo has a population of 93,932 within the broader Orange County population of 3.24 million. The city's diverse employment sectors include health care and social assistance (12.5%), professional services (11.7%), retail trade (11.3%), manufacturing (11.2%), and education (8.8%), with white-collar workers comprising 90% of the working population. Major employers in Mission Viejo include Providence Mission Hospital, Saddleback College, and Saddleback Valley Unified School District. Ongoing developments in the area include Esencia Commons, a 175,000-square-foot retail center in nearby Rancho Mission Viejo, and a $712 million expansion of Mission Hospital.

Fryman noted the strength of the South Orange County retail investment market, stating, "Despite broader market headwinds, South Orange County continues to be a highly sought-after retail investment destination due to its affluent demographics, strong household incomes, and limited supply of well-located properties. Furthermore, the ongoing development of new housing communities in the surrounding areas is expected to further fuel demand for retail goods and services, making this a particularly attractive market for both owner/users and investors with a long-term vision. This sale underscores the resilience and inherent value of strategically positioned retail assets in this dynamic region."

About Hanley Investment Group

Celebrating 20 years, Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with an over $11.5 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com [http://www.hanleyinvestment.com/].

About Walseth Investment Company

Michael Walseth is the President and Founder of the Walseth Investment Company. Walseth Investment Company specializes in the sale of commercial property, including single-tenant, multi-tenant, sale-lease-back, NNN investments, and land properties nationwide. Michael built his company to serve the real estate needs of institutions, developers, and private investors. Michael has closed over 150 property transactions throughout his 20-year career, accounting for an estimated $3 billion (US) in total consideration. Michael and his transactions have been regularly featured in GlobeSt, Western Real Estate Business, Shopping Center Business, Bisnow, The Wall Street Journal, San Diego Business Journal, Orange County Business Journal, Los Angeles Business Journal, Orange County Register, and most other real estate and local publications.

For more information, visit www.walsethinvestment.com [http://www.walsethinvestment.com/].

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=hanley-investment-group-and-walseth-investment-company-arrange-sale-of-51312-sf-valueadd-shopping-center-in-south-orange-county-calif-for-1163-million]
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/

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