Faris Lee Arranges $25 Million Sale of Gateway Center in California

Barnes & Noble and Michaels anchor Gateway Center in Escondido. Barnes & Noble and Michaels anchor Gateway Center in Escondido.

Escondido, Calif. — Faris Lee Investments has arranged the $25 million sale of Gateway Center, an 89,625-square-foot shopping center located in Escondido.

The property was 95 percent occupied at the time of sale by tenants including Michaels, Barnes & Noble, Fantastic Sam’s, Firehouse Subs, Dickies and H&R Block. Rick Chichester, Donald MacLellan, Patrick Toomey and Tom Chichester of Faris Lee represented the seller, a partnership led by GDA Real Estate Services. Gene Ventura and Jeff Conover, also of Faris Lee, represented the buyer, a private investor from San Diego County.

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