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SPOKANE, Wash. – Hanley Advance Aculation Absolute Acreage Advisors, a nationally accustomed absolute acreage allowance and advising abutting specializing in re acreage sales, appear today that the abutting has abiding the auction of a single-tenant net-lease acreage active by a anew opened At Home in Spokane, Washington. The auction amount was $10,240,000.
Hanley Advance Group’s Executive Vice Presidents Bill Asher and Jeff Lefko, forth with President Ed Hanley, represented the seller, Rich Development of San Pedro, California. The buyer, a clandestine advance aculation from Beverly Hills, California, was represented by Mark Thiel of Marcus & Millichap of San Diego, California.
Located on 7.99 acreage at 7619 N. Division Street in Spokane, the anew adapted 86,502-square-foot architecture active by At Home is a above Costco building, which was adapted in 2019 to board the new tenant. At Home had a nd-new, abiding lease.
“Hanley Advance Aculation acquired an all-cash Southern California-based 1031-exchange client that owns several At Home locations as able-bodied as added bartering absolute acreage in the Spokane barter area,” said Asher.
Hanley adds, “We expedited the abutting of escrow to accomplish a anniversary closing for both the client and seller.”
At Home (NYSE: HOME) is a big box home décor superstore and one of the fastest-growing reers in America. (The National Re Federation ranked At Home #8 in its baronial of the “Fastest Growing Reers in America” in 2019.) At Home offers added than 50,000 on-trend different items beyond ample artefact categories including furniture, garden, home textiles, housewares, patio, rugs, tabletop decor, and bank décor forth with a ample allocation of its amplitude committed to melancholia decor. Since its IPO about three years ago, At Home has developed its anniversary abundance footprint, net sales and aculation by added than 20%. Headquartered in Plano, Texas, the aggregation currently operates 212 food in 39 states. The boilerplate abundance is 110,000 aboveboard feet. In 2018, At Home had a almanac acquirement of $1.2 billion.
“The At Home acreage allowances from added than 180,500 bodies aural a five-mile ambit of the property, and amazing exposure, character and afterimage forth North Division Street, which has 40,000 cars per day and is the ascendant re aisle in the region,” said Asher. “Nearby ballast tenants accommodate Walmart Supercenter, Target, Lowe’s, Albertsons, Big Lots, Burlington, Grocery Outlet, Harbor Freight, Hobby Lobby, Home Depot, Michaels, PetSmart, Ross Dress for Less, Safeway, T.J.Maxx, Total Wine & More, Trader Joe’s, WinCo Foods, and the NorthTown Mall.”
Spokane, the accompaniment of Washington’s second-largest city, is amid in eastern Washington ancd 92 afar south of the Canada-US border, 18 afar west of the Washington–Idaho border, and 279 afar east of Seattle forth I-90. Approximately 218,000 bodies alive in the burghal of Spokane.
Hanley Advance Aculation has abiding the auction of 175 single-tenant and multi-tenant re ets alfresco of California in the aftermost 24 months. “California investors are abrogation the accompaniment to acquirement newer architecture re ets with new, abiding leases, amid on A sites alfresco of California, and we don’t see this trend endlessly any time soon,” said Asher.
About Hanley Advance Group Hanley Advance Aculation Absolute Acreage Advisors is a re advance advising abutting with a $6 billion transaction clue almanac nationwide, who works carefully with alone investors, lending insutions, developers, and insutional acreage owners in every angle of the transaction to ensure that the accomplished amount is achieved. For added information, visit www.hanleyinvestment.com.
Media ContactCompany Name: Hanley Advance Aculation Absolute Acreage AdvisorsContact Person: Bill Asher, Executive Vice PresidentEmail: Send EmailPhone: 949.585.7684Address:3500 E. Coast Highway, Suite 100 City: Corona del MarState: CaliforniaCountry: United StatesWebsite: http://www.hanleyinvestment.com/
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