Hanley Investment Group Arranges Sale of Grocery-Anchored Shopping Center in Southern California

CORONA, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Sierra del Oro Towne Centre, a 100%-occupied, 110,485-square-foot shopping center anchored by Ralphs and Dollar Tree in Corona, California. The sale price was not disclosed.

Sierra del Oro Towne Centre is Hanley Investment Group's sixth grocery-anchored shopping center sale over the last 12 months.

Hanley Investment Group Executive Vice President Kevin Fryman and President Ed Hanley represented the seller, Phillips Edison & Company, Inc. (Nasdaq: PECO), one of the nation's largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, headquartered in Cincinnati, Ohio. The buyer, a private 1031 exchange investor based in Northern California, was represented by Jesse Millman of Newmark.

In 2017, Hanley Investment Group represented the seller, Cornerstone Development Partners of Irvine, California, in the sale of Sierra del Oro Towne Centre, when Phillips Edison & Company was the buyer.

"We secured a private all-cash 1031 exchange buyer who had recently sold their property to a land developer," said Fryman. "We negotiated an expedited due diligence and closing timeline to provide the seller with certainty of execution."

Fryman added, "Prior to marketing the property for sale, we advised the seller to structure a new long-term lease with Ralphs to maximize value and align with private capital's objective of having a strong, committed anchor at the center."

In addition to Ralphs and Dollar Tree, tenants at Sierra del Oro Towne Centre include Anytime Fitness, Chase Bank, Jack in the Box, Domino's Pizza, Wingstop, Green River Montessori, Kumon Math and Reading Center, Fantastic Sams, and PostalAnnex.

According to Fryman, 72% of the tenants have operated at the center since at least 2011, and 70% are national or regional brands.

"The sale of Sierra del Oro represented a unique opportunity to acquire an entire grocery-anchored shopping center, including the anchors, shop tenants, and pad building ground leases in an affluent market located in Southern California," said Fryman. "Ralphs has operated at the shopping center since it was originally constructed in 1991 and had recently executed a new long-term lease, demonstrating their commitment to the location. Furthermore, Ralphs is the only traditional grocery store within a three-mile radius."

Fryman noted that the average household income within a one-mile radius of the property exceeds $145,000, and there are 148,000 people within a five-mile radius. The property is conveniently situated less than one mile from the Serfas Club Drive exit and two miles from the Green River Road exit on the 91 Freeway, which carries 275,000 cars per day.

Ralphs' parent company, Kroger (NYSE: KR; S&P: BBB investment grade), operates over 2,700 grocery stores nationwide and is the largest traditional grocery operator in the U.S. with more than $148 billion in annual revenue. Ralphs, a staple grocery store chain in Southern California, has served its communities since 1873, making it one of the oldest continuously operating grocery brands in the U.S. Today, Ralphs has more than 180 locations throughout Southern California and is the market share leader in the region.

"Investor demand for grocery-anchored retail centers remains exceptionally strong, driven by the stability and daily traffic that grocers like Ralphs generate," said Hanley. "Both private and institutional buyers continue to target these assets for their long-term income durability and resistance to e-commerce disruption. With consistent foot traffic, strong tenant fundamentals, and limited new supply in high-growth markets, grocery-anchored centers offer a compelling investment profile."

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12.5 billion transaction track record that specializes in the sale of retail properties nationwide. The company's expertise, proven track record, and dedication to putting clients' needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through propertyspecific marketing strategies, cuttingedge technology, and local market knowledge. Hanley Investment Group's relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service and more than 20 years of experience, Hanley Investment Group has redefined the experience of selling retail investment properties.

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

About Phillips Edison & Company

Phillips Edison & Company, Inc. ("PECO") is one of the nation's largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO's centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO's top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of September 30, 2025, PECO managed 328 shopping centers, including 303 wholly-owned centers comprising 34.0 million square feet across 31 states and 25 shopping centers owned in three institutional joint ventures. PECO is focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.

For more information, visit www.phillipsedison.com [https://www.phillipsedison.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-arranges-sale-of-groceryanchored-shopping-center-in-southern-california]
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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