Hanley Investment’s Urban Retail Division Sells Trophy Retail/Office Project on Lake Avenue in Pasadena, Calif.

IRVINE, CA – November 17, 2011 – (RealEstateRama) — Hanley Investment (HI) Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors, specializing in the sale and advisory of high profile mixed-use and urban retail properties in dynamic commercial districts across the United States, announced today that Carlos J. Lopez, President of HI Urban Retail Advisors represented Arenda Capital Management, a Los Angeles-based private real estate investment firm, and AEW, a Boston-based pension fund advisor, in the purchase of an 87,000-square-foot retail/office complex situated within the South Lake District of Pasadena, Calif. The purchase price was $21 million.