Released on: January 15, 2008, 10:44 pm

Press Release Author: Anne Monaghan / Monaghan Communications

Industry: Real Estate

Press Release Summary: Jeremy McChesney and Kevin Fryman of Hanley Investment Group
Real Estate Advisors represented the buyer in the sale of two single-tenant NNN
Carl's Jr. properties in Florence and Meridian, Colorado. The collective purchase
price for both assets was $3,318,000.

Press Release Body: IRVINE, CALIF. - Hanley Investment Group Real Estate Advisors,
one of the most dominant retail investment groups in the western United States and a
market leader in the sale of retail properties, announced today Jeremy S. McChesney
and Kevin T. Fryman of Hanley Investment Group represented the buyer in the sale of
two single-tenant NNN Carl's Jr. properties in Florence and Meridian, Colorado. The
collective purchase price for both assets was $3,318,000.

The property in Florence (Fremont County), Colorado is a 4,473-square-foot
single-tenant NNN Carl's Jr. with drive-thru located at 502 E. Main Street. The
property is easily accessible from the signalized corner of State Highway 115 (Main
Street) and State Highway 67 (Robinson Avenue). Located approximately 93 miles south
of Denver, Colorado, the property was built in 1991 and is situated on 0.93 acres.
Carl's Jr. has a new 20-year lease with 12 percent increases every five years. The
purchase price was $1,400,000, representing a 6.50 percent cap rate.

The property in Meridian (Douglas County), Colorado is a 2,733-square-foot
single-tenant NNN Carl's Jr. with drive-thru located at 12165 Lioness Way. Located
in a high income suburb of Denver, Colorado, the property was newly developed in
2007 and is situated on 0.71 acres. The property is located within a brand new
development, Meridian International Business Center, on Lincoln Avenue, a major
east/west artery and 1 mile east of Interstate 25. Carl's Jr. has a new 20-year
lease with 12 percent increases every five years. The purchase price was $1,918,000,
representing a 6.10 percent cap rate.

"After successfully handling the disposition of a multi-tenant commercial asset in
Orange County, California, we identified two single-tenant NNN investment
opportunities that fulfilled our client's 1031 exchange requirement," said Jeremy S.
McChesney, vice president at Hanley Investment Group. "Our client wanted one or two
single-tenant NNN investments, leased to a solid credit tenant that was easy to
manage. We found two properties that were an ideal fit."

"The lessee for both properties is a restaurant franchisee of 59 Carl's Jr. and
Hardee's with locations across the United States," added Kevin Fryman, senior
associate at Hanley Investment Group. "The financial strength and operating
experience of the franchisee along with new 20-year leases with 12 percent increases
every five years, resulted in two secure and stable investment opportunities that
fulfilled our client's 1031 exchange."

The buyer was a private investor based in Garden Grove, Calif. The seller, By the
Bay Land Company based in Denver, was represented by Andy Bogardus at NAI BT
Commercial in San Francisco, Calif.

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 advisory firm
with a two 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.

# # #

Web Site: http://www.hanleyinvestment.com

Contact Details: William B. Asher, Managing Director
Hanley Investment Group
Real Estate Advisors
2030 Main Street, Suite 1650
Irvine, CA 92614
T: 949.585.7684
F: 949.585.7611
E: basher@hanleyinvestment.com