HANLEY INVESTMENT GROUP SELLS GROCERY STORE PROPERTY FOR $2.86 MILLION

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LOMA LINDA, CALIF. — Los Angeles-based Downtown Gallery has acquired a single-tenant Fresh & Easy Neighborhood Market in Loma Linda. The 15,000-square-foot property, which is located at 25694 Redlands Blvd., sold for $2.86 million, representing a 6.6 percent cap rate. Built in 2009, the property is situated on a 2.1-acre land parcel. Fresh & Easy is a subsidiary of United Kingdom-based Tesco. The seller was Los Angeles-based MV Investors Inc. Edward Hanley of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.

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