Hanley Investment Group Sells Grocery Anchored Retail Center in Charleston, West Virginia

Kevin T. Fryman of Hanley Investment Group represented the seller in the sale of Ashton Place Shopping Center, a 76,947-square-foot Kroger anchored shopping center located at 1100 Fledderjohn Road in Charleston, West Virginia.

February 8, 2013 (FPRC) -- IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the United States and a market leader in the sale of retail properties, announced today Kevin T. Fryman represented the seller in the sale of Ashton Place Shopping Center, a 76,947-square-foot grocery anchored shopping center in Charleston, West Virginia. The purchase price could not be disclosed.

Ashton Place Shopping Center is located at 1100 Fledderjohn Road on 7.91 acres. Built in 1989, the property is anchored by Kroger and was 100% occupied at the time of sale.

The buyer was Kroger Limited Partnership of Cincinnati, Ohio, and represented itself. The seller was a private investor, based in Tennessee.

“Kroger was willing to pay the shopping center owner an aggressive price due to the fact this was a strong performing store within the Kroger chain," said Hanley Investment Group's Senior Vice President Kevin T. Fryman. "Kroger plans to expand and renovate the store, which the company had determined was undersized given their strong sales volume."

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 brokerage firm with a three 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.

For more information contact Anne Monaghan of Monaghan Communications  (http://www.hanleyinvestment.com)
(949) 585-7610

Keywords: Hanley Investment Group, Kevin T. Fryman , retail real estate

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