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Faris Lee Investments

Ming Plaza
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Brokers Sale of 117,228-Square-Foot Shopping Center in Southern California

by Julia Sanders

Bakersfield, Calif. — Faris Lee Investments has arranged the sale of Ming Plaza, a retail center located on Ming Avenue in Bakersfield. A private family office sold the property to an undisclosed buyer for $26.5 million. Sean Cox, Alex Moore and Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal. Faris Lee also arranged financing for the buyer. At the time of sale, the 117,228-square-foot property was nearly 100 percent occupied and includes three outparcels leased to Starbucks Coffee, Chase Bank and Long …

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La Paz
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Investments Brokers $14.1 Million Sale of La Paz Shopping Center in Laguna Niguel, California

by Julia Sanders

Laguna Niguel, Calif. — Faris Lee Investments has negotiated the sale of La Paz Shopping Center in the Orange County city of Laguna Niguel. Carson Cos. sold the property to an Orange County-based private investor for $14.1 million. Scott DeYoung, Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller and the buyer in the deal. Located at 460 S. Lake Ave., the property features 35,302 square feet of retail space. Current tenants include Walgreens and Wild Fork Foods, a meat and seafood market. The multi-tenant property also …

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Faris Lee InvestmentsInvestment salesNewsTexas

Faris Lee Arranges $7 Million Sale of Retail Development Leased to Floor & Décor in Southern Texas

by Julia Sanders

McAllen, Texas — Faris Lee Investments has arranged the $7 million sale of a 65,000-square-foot retail property currently under development in McAllen. The property is triple-net-leased to Floor & Décor, which is scheduled to open on March 3. Jeff Conover and Scott DeYoung of Faris Lee represented the seller, a Texas-based developer, in the transaction. The buyer was a Texas-based 1031 exchange investor.

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Dairy Queen
Faris Lee InvestmentsInvestment salesLouisianaNews

Faris Lee Arranges Sale of 10 Dairy Queen-Leased Properties in Louisiana

by Julia Sanders

Irvine, Calif. — Faris Lee Investments has arranged the sale of 10 Dairy Queen-occupied properties across Louisiana. The portfolio was sold to two separate buyers. Scott DeYoung, Jeff Conover and Hunter Steffien of Irvine, California-based Faris Lee represented the seller, an entity doing business as MP Holdings LLC, in the transaction. The 10 freestanding locations feature drive-thrus and are located in metro New Orleans, Baton Rouge, Lafayette and Houma.

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Safeway
Faris Lee InvestmentsNevadaNewsWashington

Faris Lee Arranges Sales of Two Grocery Stores in Nevada, Washington for $22.4 Million

by Julia Sanders

Henderson, Nev. and Millwood, Wash. — Faris Lee Investments has brokered the $22.4 million sales of two single-tenant grocery stores totaling 106,254 square feet in Nevada and Washington. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the undisclosed buyers and seller, a Southern California-based family private office, in the deals. The transactions included the disposition of a 58,254-square-foot Albertsons property in Henderson, roughly 16 miles outside Las Vegas; and a 48,000-square-foot Safeway in Millwood, roughly 8 miles outside Spokane.

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Don MacLellan Retail 2022 Outlook
Content PartnersFaris Lee InvestmentsFeaturesFinanceIndustry ContentInvestment salesNet leaseRetailers

Retail Investment Strengths Expected to Continue in 2022

by Sarah Daniels

A new influx of money taking aim at the retail sector made 2021 a strong year for investment sales in the category. Factors like continued inflow of capital, attractive yields, reduced fears about the disappearance of the 1031 exchange and the opportunities for deals indicate that 2022 will likely follow in 2021’s footsteps as a high-performing year. Don MacLellan, managing principal at Faris Lee, explains that since the beginning of the third quarter of last year, the company has seen a significant inflow of capital interested in retail investment properties, …

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Chick-fil-A
Faris Lee InvestmentsGeorgiaInvestment salesLouisianaNew MexicoNews

Faris Lee Arranges $13.9 Million Sale of Four Chick-fil-A Properties Across Southeast, New Mexico

by Julia Sanders

Albuquerque, NM., Conyers, Ga., and Mandeville and Marrero, La. — Faris Lee Investments has arranged the $13.9 million sale of four properties ground leased to Chick-Fil-A. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the sellers, local developers from both the Southeast and Southwest regions of the United States. Faris Lee also procured the 1031 exchange buyers, who were based out of the West Coast, Southwest and Northeast regions. The properties are occupied under an average 15-year lease term and are located in Albuquerque, New Mexico; Conyers, Georgia; …

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21572 Plano Trabuco Road
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $4.2 Million Sale of CVS-Occupied Building in Trabuco Canyon, California

by Julia Sanders

Trabuco Canyon, Calif. — Faris Lee Investments has arranged the sale of a freestanding retail building located in Trabuco Canyon. ValueRock Realty acquired the property from an undisclosed seller for $4.2 million. CVS/pharmacy occupies the property on a triple-net lease basis. Rich Chichester and Don MacLellan of Faris Lee, in partnership with John Cumbelich of Cumbelich & Associates, represented the seller and buyer in transaction.

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Faris Lee InvestmentsFloridaInvestment salesNews

Faris Lee Arranges $6.6 Million Sale of Retail Center in Metro Jacksonville

by Julia Sanders

Middleburg, Fla. — Faris Lee Investments has arranged the $6.6 million sale of Branan Field Walk, a 14,551-square-foot strip center located roughly 26 miles outside Jacksonville in Middleburg. Jeff Conover and Scott DeYoung at Faris Lee Investments represented the Midwest-based 1031 exchange buyer in the transaction. The property was fully leased to seven tenants at the time of sale.

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cvs
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Negotiates $5.4 Million Sale of CVS-Occupied Building in Bakersfield, California

by Julia Sanders

Bakersfield, Calif. — Faris Lee Investments has arranged the sale of a freestanding retail property located at 2690 Mount Vernon in Bakersfield. Intertex Property Advisors acquired the building from a Los Angeles-based developer for $5.4 million. The property is absolute triple-net leased to CVS Y Mas, which has occupied the location for 48 years. Sean Cox and Jeff Conover of Faris Lee Investments represented the seller, while Cushman & Wakefield represented the buyer in the transaction.

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