Faris Lee Completes $7.6 Million Pre-Sale of Retail Property near Charlotte, North Carolina

Gastonia, N.C.  The property is fully leased and includes a 12,500-square-foot freestanding building occupied by Petco and two freestanding pad buildings.

Gastonia, N.C. – Faris Lee Investments has completed the $7.6 million pre-sale of Petco & Shops, an approximately 22,500-square-foot newly constructed property in Gastonia, a growing submarket of Charlotte. The property is fully leased and includes a 12,500-square-foot freestanding building occupied by Petco and two freestanding pad buildings. Each pad building totals approximately 5,000 square feet with Select Comfort, Massage Envy Spa, Firehouse Subs and Tijuana Flats as tenants. All the tenants have new 10-year triple-net leases. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, a privately held development company based in North Carolina. Shaun Riley of Faris Lee Investments represented the buyer, a private investor from Arizona.

   Scott Reid

Tagged under