Hanley represented Cadence Capital Investments of GreenwoodVillage, CO, which acquired the retail center from Viejo PropertiesLLC of San Mateo. Hanley comments that the competition for theproperty was driven by its future upside potential as well as itsSouth Orange County location. "The seller got comfortable veryquickly with the buyer's track record, including owning andmanaging multiple properties in the immediate area," he says.

Marguerite Plaza, built in 1973, is situated on 3.5 acres andeasily accessible via the Interstate 5 Freeway. At the time of saleit was 100% occupied by 10 tenants including Total Woman Health& Fitness Spa, Blockbuster Video, Leslie's Pool Supply, andLittle Caesar's Pizza. The seller was represented by Dan Parker ofParker & Associates in Laguna Hills and Don Smith of D.W.A.Smith & Co. in Newport Beach.

In the second deal, a 5,042-sf multi-tenant strip center calledMagnolia Plaza at 9025 Warner Ave. in Fountain Valley traded for $4million, with Hanley and Eric P. Wohl representing the NewportBeach-based private investor who sold the property. The purchaseprice represented one of the highest prices per sf in the area at$793 and one of the lowest cap rates at 4.95%, Hanley notes.