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Starbucks-Anchored Strip Center Sells in 1031 Exchange
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Starbucks-Anchored Strip Center Sells in 1031 Exchange
Hanley Investment Group Real Estate Advisors closed the sale of Rancho Ortega Plaza, a two-story, 23,122-square-foot strip center anchored by Starbucks in San Juan Capistrano. The property sold for $9.2 million to a private 1031 exchange buyer in a seven-day escrow. EVP Kevin Fryman and president Ed Hanley represented the seller, a private investor based in Orange County. The buyer, a Los Angeles-based private investor, was represented by Michae…
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