HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF PALOMAR PLACE, CARLSBAD, CA

HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF PALOMAR PLACE, CARLSBAD, CA

A partnership formed by Hannay Realty Advisors (www.hannayra.com) is pleased to announce that they have closed on the purchase of Palomar Place, a brand new high quality neighborhood retail center located along the Pacific Coast in Carlsbad, CA. The 15,317 square foot center is fully occupied and boasts an excellent tenant roster that includes Wells Fargo, Starbucks, AT&T, and GNC. The property is also shadow anchored by a full service Costco and is located across the street from LEGOLAND, one of southern California’s busiest tourist attractions.

“We are delighted with our acquisition of Palomar Place. This is a brand new, best-in-class asset that provides stable cash flow for our investors and is an excellent addition to our California portfolio. We are actively looking for future acquisition and co-investment opportunities in coastal California and throughout the western US, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay.

 

ABOUT HANNAY REALTY ADVISORS

Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona.  The company currently manages approximately 12 million square feet of commercial properties with offices in Arizona, California, Colorado and Nevada.  Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program.   Hannay’s management and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States.  Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.”

The leasing and property management contact for Palomar Place is Craig Hannay (602) 374-2000.  For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.

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