Latest news with #LeeCsenar
Los Angeles Times
06-08-2025
- Business
- Los Angeles Times
Hanley Investment Group Brokers $11.3-Million Sale of Pique at Angel Stadium Retail Center
Investor Activity Heats Up Around Platinum Triangle's Retail Core Hanley Investment Group Real Estate Advisors, a real estate brokerage and advisory firm specializing in retail property sales, has announced that the firm arranged the sale of Pique at Angel Stadium, a 100% occupied, 15,710-square-foot multi-tenant retail strip center adjacent to Angel Stadium and within walking distance to the Honda Center and OCVIBE. The sale price was $11.3 million. Hanley Investment Group's senior vice president, Lee Csenar, along with President Ed Hanley, represented the seller, a private investor based in the Los Angeles area. The buyer, Vista Emerald, LLC, was represented by Omar Hussein of Beacon Realty Advisors. 'We identified an exchange buyer through cross-marketing of another high-profile Orange County asset,' Csenar said. 'This transaction illustrates ongoing investor interest in internet-resistant, service-oriented retail centers – especially those with essential tenants – located in prime Orange County markets.' Ed Hanley added, 'Orange County remains one of the nation's most competitive and resilient retail investment markets, fueled by population density, affluence and tourism,' Hanley said. 'Centers like Pique at Angel Stadium – with diverse tenant mixes and reliable foot traffic – continue to attract investors seeking long-term income and inflation-protected growth.' Pique at Angel Stadium, formerly known as The Shops at Stadium Towers, was built in 2006 on 2.19 acres at 2406-2432 East Katella Avenue in Anaheim. The center features eight tenants, including Comerica Bank, with a mix of 78% restaurants and 22% service-oriented businesses. Notably, 50% of the leases have terms of at least four years remaining, providing a 4.2-year weighted average lease term (WALT) with annual increases that hedge against inflation. The property also offers ample parking with 150 spaces and 16 Tesla Superchargers, along with prominent pylon signage on Katella Avenue. The property benefits from a high-traffic location with 60,000 cars per day in front of the subject property. It is strategically positioned at the 57 Freeway on/off ramp, which sees 270,000 cars per day, and is easily accessible to the 5, 22 and 57 Freeways. The sale comes amidst significant development momentum in Anaheim, particularly around the stadium area. The property is immediately adjacent to 330,000 square feet of Class A office space, including the 12-story Stadium Towers, which was reportedly the largest office purchase in Orange County in 2025 by Anaheim Ducks owners Henry and Susan Samueli, according to CoStar. The Samuelis have been actively acquiring properties near the Honda Center as part of their plans for OCVIBE, a $4-billion mixed-use project that will further transform the area. Pique is located within the Platinum Triangle Mixed Use (PTMU) overlay zone, which permits 17,840 housing units, with 6,000 units already complete and 2,600 units approved or under construction. The center is also a Transit-Oriented Development adjacent to ARTIC (Anaheim Regional Transportation Intermodal Center), a major transit hub in Southern California serving approximately 40 million annual visitors. This prime Orange County location benefits from 25 million annual visitors to Anaheim, generating $16 billion in spending. The property is located two miles from Disneyland, which draws 18 million annual visitors, and the Anaheim Convention Center, attracting one million annually. 'Investor confidence continues to build around retail assets strategically positioned within evolving urban districts,' Csenar concluded. 'Anaheim's Platinum Triangle, coupled with the long-term vision for OCVIBE, creates a powerful foundation for sustained tenant performance and value appreciation at centers like Pique at Angel Stadium.' Information sourced from Hanley Investment Group. Learn more by contacting anne@
Los Angeles Times
06-05-2025
- Business
- Los Angeles Times
Ralphs at Market Lofts in Downtown Los Angeles Sells for $20.9 Million
Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners have announced the $20.9 million sale of a 54,948-square-foot Ralphs-anchored ground-floor retail component at Market Lofts, a mixed-use condominium development in Downtown Los Angeles. Hanley Investment Group senior vice president Lee Csenar and SRS Capital Markets executive vice president Carlos Lopez represented the seller, MDC Realty Advisors of Denver, Colorado, and the buyer, Mushmel Properties of Los Angeles. 'We generated multiple qualified offers from 1031 exchange investors, private family offices and institutional investors, ultimately selecting a private, all-cash buyer with whom we had previously transacted,' said Csenar. 'The buyer agreed to a 15-day due diligence period, giving the seller strong confidence in closing.' Completed in 2007, Ralphs at Market Lofts is located at 645 W. 9th Street and was the first grocery store to open in Downtown Los Angeles since the 1950s. Developed by Lee Homes and CIM Group and designed by KTGY, the seven-story mixed-use community features six floors of residential lofts, totaling 267 units, built above ground-level retail and a subterranean parking garage. The retail component is anchored by a 49,489-square-foot Ralphs Fresh Fare grocery store, along with six additional tenants: The UPS Store, Supercuts, Simply Salads, Qwench Juice Bar, Honeymee and Momi Sushi. 'Ralphs has achieved high sales volumes at Market Lofts as the dominant grocer in Downtown Los Angeles,' Lopez said. 'The project's full occupancy and grocery-anchored tenancy, along with its long-term income stability, offer a secure investment opportunity in the heart of Downtown Los Angeles.' Located at the signalized intersections of Flower and 9th Streets and Hope and 9th Streets, Ralphs at Market Lofts benefits from high visibility, strong pedestrian traffic and excellent accessibility. The tenant mix – including grocery, restaurant and service-oriented retailers – offers 100% internet-resistant uses. There is also limited grocer competition. (Target opened in 2010 and Whole Foods opened in 2015.) It is adjacent to key Downtown Los Angeles destinations, including Arena, LA Live and the Los Angeles Convention Center. Within a one-mile radius, the property draws from a residential population of 85,000 with an average household income of $97,000. The daytime population reaches 200,000, and more than 1.2 million people live within five miles. 'Ralphs at Market Lofts represented a rare opportunity to acquire a fully leased asset anchored by a dominant grocer in the heart of one of the most dynamic urban centers in the country,' said Csenar. Ralphs, a California grocery chain, has been serving communities since 1873, making it one of the oldest continuously operating grocery brands in the United States. Founded by George Albert Ralphs in Los Angeles, the company started as a small storefront and grew into a leading subsidiary of The Kroger Co., the nation's largest traditional grocery store operator. Ralphs operates 187 stores across California and remains a market share leader in the state's competitive grocery industry. Information was sourced from Hanley Investment Group Real Estate Advisors. To learn more, contact LCsenar@
