Hanley Investment (HI) Urban Retail Advisors Lists Landmark Pasadena Location for $15,475,000

Hanley Investment (HI) Urban Retail Advisors is marketing for sale a landmark location on South Lake Avenue in Pasadena, one of Southern California’s most dynamic and well-recognized retail shopping districts. The 24,366 sq. ft. property, which is listed for sale for $15,475,000, is a trophy street-front retail building occupied by Ann Taylor, Pottery Barn Kids and Talbots.

Landmark South Lake Avenue property in Pasadena listed for sale for $15,475,000 by Hanley Investment (HI) Urban Retail Advisors.

Lousiville, KY-IN (1888PressRelease) September 30, 2008 - Hanley Investment (HI) Urban Retail Advisors, a retail investment division of Hanley Investment Group Real Estate Advisors specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States, announced today it has been awarded the exclusive listing to market the Lake Avenue Shops in Pasadena, California, located on South Lake Avenue, one of Southern California's most dynamic and well-recognized retail shopping districts. Carlos J. Lopez of HI Urban Retail Advisors has been named the listing agent. The offering is listed for $15,475,000 on behalf of the seller, a private family partnership based in Beverly Hills, Calif.

The 24,366-square-foot offering, known as the Lake Avenue Shops, is a trophy street-front retail building occupied by Ann Taylor, Pottery Barn Kids and Talbots. The offering is located at 505 South Lake Avenue within 10 blocks of the top regional retailers in Southern California including over 600 businesses. Located on the west side of the street, the subject property is positioned directly adjacent to The Shops on Lake, a 450,000-square-foot lifestyle center anchored by Macy’s. The Lake Avenue Shops is situated on 1.11 acres and is 100 percent occupied.

"Located on one of the premier retail shopping corridors in Southern California, Lake Avenue Shops represents a rare pride of ownership, street-front retail investment opportunity," said Carlos Lopez, president at HI Urban Retail Advisors.

"The Lake Avenue Shops has benefited from long-term historical occupancy and offers a prospective investor with extraordinary upside potential," notes Lopez. "There is a tremendous opportunity to raise below market rents including a future long-term development opportunity to increase density."

"The Lake Avenue Shops also includes a dedicated parking lot of 62 spaces in the rear of the property, which is extremely unique for urban street districts," Lopez said.

"The City of Pasadena has also implemented a $2.6 million streetscape improvement program on South Lake Avenue that will include new landscaping, benches, pedestrian lighting, trash receptacles and improved retail storefronts," noted Lopez. "The location of the property is irreplaceable and represents an exceptional opportunity in this market."

About Hanley Investment (HI) Urban Retail Advisors
Hanley Investment (HI) Urban Retail Advisors is a retail investment division of Hanley Investment Group Real Estate Advisors specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States. Built on unsurpassed dedication and an impressive track record of performance and results, HI Urban Retail Advisors consistently exceeds client expectations through its unparalleled, comprehensive knowledge of urban retail from a national and global perspective.

Whether it is situated in a well-located, dynamic commercial district, or in conjunction with a mixed-use project, urban retail is a very specific product type within the overall retail marketplace. HI Urban Retail Advisors guides clients in attaining the highest returns through its exceptional experience and responsive team that thoroughly comprehends this unique and growing market segment. HI Urban Retail Advisors utilizes its innovative expertise to lead property owners through complex issues relating to land use and the progressive revitalization of high density urban areas to effectively help clients understand the significant characteristics of each urban retail asset and its optimum positioning and value.

HI Urban Retail Advisors works closely with investors to develop and maintain long-term relationships and has successfully accumulated a highly targeted database of mixed-use and urban retail property investors and owners from every major urban market in the country that is unmatched in the industry. HI Urban Retail Advisors' concentrated expertise and exclusive focus on mixed-use and urban retail properties translate into measurable results and is the reason that clients rely on HI Urban Retail Advisors to be the most dependable source for valuation services, market information and urban retail investment sales. For more information, visit the Company’s website at www.hiurbanretail.com or call (949) 585-7610.

About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a two billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.

###