Hanley Investment Group Brokers $21.2M Sale of El Dorado Shopping Center in Long Beach, California

by Amy Works

LONG BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of El Dorado Shopping Center, a retail property located at 8105-8195 E. Wardlow Road in Long Beach. A partnership managed and represented by Orange-based Milan Capital Management acquired the asset from El Segundo-based DPI Retail for $21.2 million.

Grocery Outlet and Dollar Tree anchor the 74,500-square-foot shopping center. Built in 1965 and renovated in 2003, the asset was 93 percent occupied at the time of sale.

Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in the transaction.

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