STOCKTON, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm recently completed the sale of Pacific Town Center, a 143,217-square-foot shopping center anchored by a high-performing Smart & Final Extra! in Stockton, California. The shopping center, with 58% vacancy, presented a unique repositioning opportunity.

Hanley Investment Group's Vice Presidents Sean Cox and Alexander Moore, along with Executive Vice President Kevin Fryman, represented the seller, a private investor based in Sacramento. The buyer, Brixton Capital, a San Diego-based privately held real estate investment firm, represented themselves.

"Attracting 18 offers from mid-market investors and private investors, we maximized pricing by securing a 1031 exchange buyer who recognized the property's exceptional value-add investment potential," remarked Cox. "At the time of the sale, the property was 58% vacant."

Cox also pointed out that "the buyer has the opportunity to lease-up a 49,835-square-foot former Toys 'R' Us, a 30,207-square-foot former T.J. Maxx, and 2,900 square feet of shop space, to bring new retail offerings to the community. With separate legal parcels, the buyer has multiple exit strategies at their disposal."

This transaction builds upon Hanley Investment Group's track record of selling similar anchored shopping centers in the Central Valley - which is over $583 million in the region.

Pacific Town Center, constructed in 2003 on 10.08 acres, is situated at 616-760 West Hammer Lane, at the southeast corner of one of Stockton's busiest intersections—the signalized junction of Hammer Lane and Pacific Avenue (with 58,000 cars per day). The center boasts excellent visibility with two large pylon signs and one monument sign on Hammer Lane and Pacific Avenue.

"The property is strategically located within a dense retail corridor at the confluence of two major arterial retail thoroughfares in Stockton—Hammer Lane and Pacific Avenue," explained Moore. "Pacific Avenue is the city's busiest north-south thoroughfare, providing access to Downtown Stockton, San Joaquin Delta College, University of the Pacific, Weberstown Mall, Sherwood Mall, Lincoln Center, and Pacific Town Center. Hammer Lane is home to major retailers, including Costco, Walmart, Lowe's, Home Depot, Food4Less, Walgreens, and numerous car dealerships like Tesla, Ford, Chevrolet, Dodge Chrysler Jeep Ram, Buick, Kia, and Hyundai."

"Smart & Final Extra! has been a tenant at the center since 2009," said Fryman. "In 2018, Smart & Final invested one million dollars in upgrades at their own expense and extended their lease for another 10 years, demonstrating their commitment to this location."

Smart & Final operates 254 stores under the Smart & Final Extra! and Smart & Final banners in California, Arizona, and Nevada. In May 2021, Bodega Latina Corp., the owner of the Fiesta Market and El Super chains, acquired Smart & Final for $620 million. The chain was ranked #34 among the Top 50 Food and Grocery Retailers by Supermarket News in 2022.

In addition to Smart & Final Extra!, Pacific Town Center's current tenants include Aaron's, Concentra Health Services, Panda Express, Subway, Western Dental, and other neighborhood-serving retailers and restaurants.

"The sale of Pacific Town Center in Stockton was one of the ten retail property transactions that Hanley Investment Group successfully completed in the week leading up to October 16," Fryman said. "This surge in activity was driven by the extended deadline for 1031 exchanges in California. However, considering the current level of buyer interest, we anticipate the sales momentum to continue through year-end as investors look to finalize transactions by the close of the year."

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $10.5 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email: Send Email
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/