In the two Menifee sales, Hanley reports that Lew 1st–CrenshawProperties LLC of Glendale bought both of the properties from thecenter's developer, Costa Mesa-based Donahue Schriber Realty Group,for a total of nearly $5.29 million. Edward B. Hanley and WilliamB. Asher of Hanley Investment Group negotiated two separateall-cash 1031 exchange deals totaling on behalf of the seller; thebuyer was represented by James Kwon of Coldwell Banker Best Realtyin Fullerton.

[IMGCAP(2)]The Wells Fargo building is at 30186 Haun Rd. in theCountryside Marketplace center and was built in 2008. It is a5,250-square-foot, free-standing building situated on slightly morethan a half acre. The Red Robin is at 30142 Haun Rd. and was alsobuilt in 2008. It is a 6,050-square-foot free-standing buildingsituated on a 1.37-acre parcel.

Hanley says that the deals illustrate that demand forsingle-tenant NNN investments "continues to be extremely strong."He adds, "There is a lack of quality single-tenant NNN propertieson the market right now in Southern California. When they do cometo market, they are transacting quickly with all-cash buyers."