Faris Lee Investments Brokers $22.6 Million Sale of Central Plaza Shopping Center in Lake Elsinore, California

by Julia Sanders

Lake Elsinore, Calif. — Faris Lee Investments has arranged the $22.6 million sale of Central Plaza Shopping Center in Lake Elsinore, with the $2.8 million sale of Ulta Beauty as the last piece of the break-up strategy for asset. The seller was HFC/PRP Elsinore LLC.

The Faris Lee team arranged the sale of a total of seven different properties within the center to seven different buyers. The transactions include a single-tenant, net-leased Marshalls; a single-tenant, net-leased Panera Bread with a drive-thru; a two-tenant pad site occupied by Pieology and Ono Hawaiian BBQ; a single-tenant, net-leased Five Below; a single-tenant, net-leased Sketchers; a single-tenant, net-leased Miguel Jr.’s with a drive-thru; and the single-tenant, net-leased Ulta Beauty.

Situated on 7.3 acres, Central Plaza is a 66,000-square-foot retail center located at the junction of Interstate 15 and Central Ave.

Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller in the transactions.

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