LIVERMORE, CA-Hanley Investment Group Real Estate Advisors says Edward Hanley assisted with the sale of Granada Shopping Center, a Lucky Supermarket-anchored shopping center at 1951 Holmes Street, in an off-market transaction. The purchase price was $17.5 million.
Granada Shopping Center is located, at the northwest corner of Holmes Street and Concannon Boulevard. The shopping center is 69,325 square feet and situated on 6.39 acres. The property, which was built in 1965, is anchored by Lucky Supermarket and includes tenants: Fairmont Bank, Cosmo Prof, Curves, Subway and Country Waffles. The center was 91% occupied at the time of sale.
The buyer was Retail Opportunity Investments Corp., of San Diego, Calif. The seller was Granada Retail, LLC of Oakland, Calif.
"Demand for well-located grocery-anchored shopping centers remains strong nationwide,” said Hanley, president of Hanley Investment Group. "Granada Shopping Center represents the 7th California grocery-anchored center Hanley Investment Group has sold in the last 12 months, for an aggregate value of approximately $145 million."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
