Faris Lee Completes the Sale of Two Single-Tenant Properties

Irvine, Calif. — Irvine-based Faris Lee Investments has arranged the sale of two single tenant buildings occupied by Walgreens and Miller’s Ale House Restaurant.

The 15,413-square-foot Walgreens located in Tucson, Arizona, sold for $9.73 million. Walgreens has 23 years remaining on its initial 25-year triple-net lease. The 9,500-square-foot Miller’s Ale House Restaurant located in Henderson, Nevada, sold for $5.25 million. Miller’s Ale House has 14 years remaining on its triple-net lease.

Rob Moore of Faris Lee represented the seller, Sunstone Arroyo LLC, and StreetView Realty represented the buyer, FL Grandland LLC, in the Miller’s Ale House transaction. Nick Coo, Matt Mousavi and Patrick Luther of Faris Lee represented the seller, Sierra Industrial LLC, and CAPRE Real Estate Investments represented the buyer, Capital Forsight, in the Walgreens transaction. 

Tagged under