Faris Lee Arranges $7.3 Million Sale of Single-Tenant Grocery Property in Baker City, Oregon

by Julia Sanders

Baker City, Ore. — Faris Lee Investments has arranged the $7.3 million sale of a single-tenant, 48,239-square-foot Albertsons in Baker City. The tenant had approximately 15 years remaining on its absolute triple-net lease. Chris DePierro, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the Orange County-based seller in the transaction. The buyer was not disclosed. The Albertsons grocery store is located adjacent to Interstate 84. Other national tenants in this area include McDonald’s, Safeway, Rite Aid, Bi-Mart, Shell and Subway. Faris Lee targeted buyers based in the Pacific Northwest and Mountain states and also sourced an agricultural investor from the neighboring state of Idaho.

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