Faris Lee Investments

Faris Lee Arranges the $12.5 Million Sale of a Bashas’ Grocery Anchored Center in Mesa, Arizona

by Julia Sanders March 25, 2021

Meza, Ariz. — Faris Lee Investments in partnership with XTEAM Velocity Retail Group, has arranged the $12.5 million sale of Augusta Ranch Marketplace, a Bashas’ grocery anchored center in the city of Mesa. Don MacLellan, Rick Chichester, Phil Ramming of Faris Lee Investments and Dave Cheatham, Darren Pitts and Eli Castronova at Velocity Retail Group represented the seller in the transaction. The Augusta Ranch Marketplace features a tenant line up with local operators and national brands. The center has a mix of grocery, food, daily needs, restaurant, QSR, medical and …

March 25, 2021

California Faris Lee Investments Investment sales News

Faris Lee Brokers $2.5 Million Sale of Taco Bell-Occupied Restaurant in Folsom, California

by Katie Sloan February 2, 2021

Folsom, Calif. — Faris Lee Investments has arranged the sale of a drive-thru restaurant property located within Folsom Gateway Shopping Center in Folsom. A private family partnership acquired the asset from an undisclosed seller for $2.5 million. Taco Bell occupies the freestanding building, which was constructed in 2007. Tyler Strauss and Jeff Conover of Faris Lee procured the buyer and represented the seller in the transaction.

February 2, 2021

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Faris Lee Arranges $13 Million Sale of Shopping Center in Southern California

by Alex Tostado January 5, 2021

Cypress, Calif. — Faris Lee Investments has arranged the $13 million sale of Meridian Plaza, a 28,500-square-foot shopping center in Cypress. Dollar Tree anchors the property, which is also leased to tenants including Starbucks, H&R Block and Wienerschnitzel. Meridian Plaza is situated along Katella Avenue, 26 miles southeast of downtown Los Angeles. Nick Miller and Shaun Riley of Faris Lee represented the buyer, an undisclosed family office based in Orange County, California completing a 1031 tax exchange, in the transaction. Thomas Kim and Jaime Park of Apple Tree Management represented …

January 5, 2021

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Faris Lee Investments Brokers $5 Million Sale of Moulton Parkway Auto Spa in Orange County, California

by Alex Tostado December 22, 2020

Laguna Hills, Calif. — Faris Lee Investments has arranged the sale of Moulton Parkway Auto Spa, a full-service car wash and gas station located in Laguna Hills. The retail property is located at the intersection of El Toro Road and Moulton Parkway. A Newport Beach, California-based seller sold the asset to an undisclosed buyer for $5 million. Moulton Parkway Auto Spa is the only full-service hand car wash in Laguna Hills. Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the seller in the deal.

December 22, 2020

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Faris Lee Arranges $7 Million Sale of Shopping Center Near Atlanta

by Alex Tostado December 1, 2020

Fayetteville, Ga. — Faris Lee has arranged the $7 million sale of Satterfield Marketplace, a 12,277-square-foot strip center in Fayetteville. Tenants at the time of sale included a Chipotle Drive-Thru, My EyeLab and Aspen Dental. The property is situated at 1135 Ga. Highway 85 N., 20 miles south of downtown Atlanta. Hunter Steffien, Jeff Conover and Scott DeYoung of Faris Lee represented the undisclosed seller in the transaction. The team also procured the buyer, an undisclosed firm based in Mexico City.

December 1, 2020

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Faris Lee Brokers $4.3 Million Sale of Property Leased to Starbucks in Metro Los Angeles

by Alex Tostado October 7, 2020

Santa Ana, Calif. — Faris Lee Investments has brokered the $4.3 million sale of a retail property leased to Starbucks Coffee in Santa Ana. Starbucks recently signed a 10-year corporate-guaranteed lease at the site, which is located at 2701 N. Grand Ave., 30 miles southeast of downtown Los Angeles. Shaun Riley and Nick Miller of Faris Lee represented the buyer, an Orange County, California-based private family investor, in the transaction. The sale closed five days before the buyer’s deadline for completing a 1031 exchange. Patrick Wade and Alex Kozakov of …

October 7, 2020

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Faris Lee Arranges $11.1 Million Sale of Two Walgreens-Leased Properties

by Alex Tostado August 26, 2020

Lake Worth, Texas and Tooele, Utah — Faris Lee Investments has arranged the sale of two Walgreens-leased properties for a total of $11.1 million. The first property is a 13,548-square-foot Walgreens located at 6244 Lake Worth Blvd., 40 miles west of downtown Dallas. Walgreens recently signed a new triple net lease, featuring a 15-year term with 12 five-year renewal options. The lease also has a 5 percent rent increase every five years for the duration of the initial term. The second property, a 14,762-square-foot Walgreens situated at 188 N. Main …

August 26, 2020

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Faris Lee Arranges Sale of Two Ground Leases Totaling $6.5 Million

by Alex Tostado August 25, 2020

Irvine, Calif. — Faris Lee Investments has arranged two ground leases for $6.5 million. The first deal was for a Starbucks Coffee in Riverside, California. A private developer based in Idaho sold the ground lease for $4.3 million to an undisclosed buyer. Starbucks occupies the space with a new 20-year lease, which includes three 10-year extension options. The property is located at 1303 University Ave., near the University of California-Riverside. Don MacLellan, Rick Chichester and Phil Ramming of Irvine-based Faris Lee, along with Cypress Retail Group, represented the seller in …

August 25, 2020

Faris Lee Investments Features Industry Content

Faris Lee: The One Thing Worse than a Health Pandemic is a Fear Pandemic

by Sarah Daniels April 15, 2020

It’s been a rough month and a half for planet Earth, but there are signs of hope. China is returning to normal life as Italy and Spain begin to ease COVID-19 restrictions. The U.S. — the country with most coronavirus-related casualties so far — isn’t at the point of reopening yet, but there are early indications it isn’t far behind. The curve is continuing to flatten — even in hotspots like New York, where Gov. Cuomo announced on April 13 that “it appears we have a plateau.” The COVID-19 infection …

April 15, 2020

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Faris Lee Arranges $39.6 Million Refinancing for Packing House Square Mixed-Use Center in Yorba Linda, California

by Alex Tostado April 8, 2020

Yorba Linda, Calif. — Faris Lee Investments has arranged $39.6 million in financing for Packing House Square, a mixed-use center located at 18180-18389 Yorba Linda Blvd. in Yorba Linda. The borrower is an undisclosed private investment company. Loan proceeds will be used to reposition the asset as a medical arts plaza with a medical anchor tenant; renovate the existing retail plaza by adding an additional 11,450-square-foot corner retail wing; and re-tenant the vacant units. Jay Quinn and Kirt Boultinghouse of Faris Lee sourced the three-year bridge loan with Los Angeles-based …

April 8, 2020

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