Tuesday, October 25, 2016

Hanley Investment Group Lists Rare Five-Acre Fee-Simple Ground Lease on South Lake Avenue in Pasadena, CA For Sale

Carlos Lopez
PASADENA, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm is marketing for sale a rare fee-simple ground-lease opportunity on South Lake Avenue in Pasadena, Calif.

The offering, which is currently unpriced, is for the fee-simple land underlying The Shops on Lake Avenue retail and parking and is shadow-anchored by Macy’s.  

According to Hanley Investment Group Senior Vice President Carlos Lopez, the property’s listing agent, the offering consists of two parcels totaling 5.32 acres with a total of 131,153 square feet of building at 345 & 401 South Lake Avenue.

Approximately 61 years remain on the lease term (which includes two 10-year options and increases every five years); 100 percent of the improvements revert to the landowner upon expiration of the ground lease.

“This is a once in a lifetime opportunity for an investor to purchase over five acres of land along South Lake Avenue in the heart of the premier shopping district in Pasadena,” said Lopez. “A long-term, triple-net ground lease is one of the most secure forms of real estate investment. ”

For a complete copy of the company's news release, please contact:

Anne Monaghan

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