Content Partners

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.

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.

Anaheim, Calif. — Faris Lee Investments has arranged the acquisition of three multi-tenant retail pad sites known as Anaheim Gateway Retail in Anaheim. Scott DeYoung and Jeff Conover of Faris Lee represented the undisclosed buyer in the transaction. The seller was also not disclosed. The three buildings total 15,356 square feet and are anchored by Starbucks Coffee, Habit Burger and California Fish Grill. The sales price was $20.5 million.

Escondido, Calif. — Faris Lee Investments has arranged the $6.1 million sale of the Shops at Trafalgar Square, a fully occupied, 14,164-square-foot strip center located 30 miles outside San Diego in Escondido. This sale completes the break-up of a larger ALDI-anchored center with an IHOP pad building. Matt Brooks and Joe Chichester of Faris Lee created and executed the break-up strategy for the center’s undisclosed initial owner. The buyer in the transaction was undisclosed.