Hanley Investment Group Brokers $5M Sale of Retail Asset in Long Beach, California
LONG BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of high-street, multi-tenant retail property located at 5354 E. Second St. in Long Beach’s Belmont Shore neighborhood. A Jackson, Wyo.-based private investor sold the asset to a Long Beach-based private investor for $5 million.
Built in 1952, the two-story building features 8,991 square feet of retail space. At the time of sale, the property was 100 percent leased. Current tenants include Arthritis National Research Foundation, Jonnum Media, The Flynn Group and FEA Consulting.
Kevin Fryman, Carlos Lopez and Ed Hanley of Hanley Investment Group represented the seller, while Nathan Holthouser of CBRE’s Newport Beach, Calif., represented the buyer in the transaction.