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Faris Lee Investments

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Faris Lee Negotiates $9.5 Million Sale of Property Within Restaurant Row in Southern California

by Alex Tostado

Victorville, Calif. — Faris Lee Investments has negotiated the $9.5 million sale of a six-tenant, 11,300-square-foot building within Restaurant Row in Victorville. The property is fully leased to leased to Which Wich, Starbucks, Nekter Juice Bar, Pieology, Ono Hawaiian BBQ and Cafe Rio. The asset, which was built in 2017, is situated at 11604 Amargosa Road, seven miles south of downtown Victorville. Restaurant Row is a mile-long stretch of Amargosa Road that features 19 eateries,  sit-down options and quick-service restaurants. Jeff Conover and Chris DePierro of Faris Lee represented the …

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Faris Lee Negotiates $16 Million Sale of LA Fitness-Occupied Property in Bay Area

by Alex Tostado

Hayward, Calif. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.

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Faris Lee Arranges $9.2 Million Sale of Two Freestanding Outparcel Assets in Fontana, California

by Alex Tostado

Fontana, Calif. — Faris Lee Investments has arranged the $9.1 million sale of two freestanding outparcel properties located at 17151-17171 W. Foothill Blvd. in Fontana. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the Los Angeles-based buyer. Totaling 34,377 square feet, the properties are situated within a Walmart-anchored shopping center.

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Richard Chichester Faris Lee
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Faris Lee: Economic Expansion to Continue through 2020

by Sarah Daniels

Richard Chichester, president and CEO of Faris Lee, knows we’re late in the cycle, but he doesn’t see this as a bad thing. Nor does he see this timing as a cause for near-term concern. “The U.S. is extremely well positioned in 2020,” he explains. “The economy continues to prove itself to be very resilient. We’re in a safe spot right now but in a mature position within the cycle. This is also the longest expansion in history, so we have to understand what the late-cycle implications are and make …

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Faris Lee Brokers Sales of Two Retail Assets in Southern California, Colorado Springs Totaling $26.1 Million

by Alex Tostado

Orange County, Calif. and Colorado Springs, Colo. — Faris Lee Investments has arranged the sales of two retail properties located in Southern California and Colorado Springs totaling $26.1 million. In the first deal, an undisclosed seller divested of Brea Center, a grocery-anchored shopping center in Orange County. An undisclosed buyer acquired the asset for $17.6 million. Current tenants include Vons, Bank of America, Pet Wants, Aulestics and Painted Nest. Don MacLellan, Rick Chichester and Jeremy Warren of Faris Lee Investments represented the seller in the transaction. In the second deal, …

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Faris Lee, MTN Retail Advisors Enter into Partnership

by Alex Tostado

Irvine, Calif. and Salt Lake City — Faris Lee Investments and MTN Retail Advisors, a grocer-specialized data collection and analytics provider, have entered into a partnership to combine Faris Lee’s retail, real estate, finance and investment advisory services with MTN’s proprietary technology, which includes artificial intelligence (AI) machine learning. MTN currently has data on 28,000 active grocers across the United States and expects that number to grow to 40,000 over the next 18 months. The partnership between Irvine-based Faris Lee Investments and Salt Lake City-based MTN Retail Advisors will also …

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Faris Lee Executes Break-Up Strategy of Three Sales Totaling $11.4 Million in Southern California

by Alex Tostado

Lake Elsinore, Calif. — Faris Lee Investments has arranged three sales with three buyers within Central Plaza Shopping Center in Lake Elsinore. The three transactions total $11.4 million. The first sale was for a Marshalls-occupied building, which sold for $4.5 million at a 6 percent cap rate; the second sale was for a Panera Bread-occupied building, which sold for $3.8 million at a 4.8 percent cap rate; and the third sale was for a Pieology- and Ono-occupied building, which sold for $3.1 million at a 5 percent cap rate. The …

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Kohl's is concerned about impact of tariffs.
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The Truth About Tariffs

by SCB Staff

Talks of tariffs and trade wars have dominated the news lately as the U.S. negotiates abroad over everything from immigration deals with Mexico to intellectual property protection (or lack thereof) in China. Though a deal was reached with Mexico earlier this month, an agreement has yet to be made with China. Even if the two countries do reach amicable terms, what kind of an impact will these types of trade wars and levies have stateside? “If the trade war challenge continues for too long or the U.S. experiences a retaliating …

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Faris Lee Investments Arranges $6.9 Million Sale of Restoration Hardware Location in Orange County

by Alex Tostado

Irvine, Calif. — Faris Lee Investments has arranged the sale of a retail property located in Irvine. A Los Angeles-based buyer acquired the asset from an Irvine-based seller for $6.9 million. Restoration Hardware occupies the property. Rick Chichester, Tom Chichester and Joe Chichester of Faris Lee Investments represented the seller and buyer in the deal.

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Faris Lee: Retail is ‘Running on All Cylinders’ As the Fed Holds Rates Steady

by SCB Staff

  It’s been a rollercoaster ride for retail, but Rick Chichester, president and CEO of Faris Lee, believes it’s smooth sailing ahead through at least the remainder of 2019, if not longer. This sense of security is largely due to the Fed’s decision to hold interest rates steady after the market reacted negatively to the four increases in 2018. This clarity has also brought renewed optimism and elevated consumer confidence to the market, something Chichester wouldn’t have predicted as little as five months ago. All of this information has given …

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