Faris Lee Negotiates $25 Million Acquisition of Promenade Shopping Center in Modesto, California

Modesto, Calif. — Faris Lee Investments has negotiated the $25 million purchase of The Promenade Shopping Center, a 118,485-square-foot retail center in Modesto. Located at 3501 McHenry Ave., the property was fully occupied at the time of sale by tenants including Ross Dress for Less, Barnes & Noble, AutoZone, Skechers, Hallmark, Cold Stone Creamery and Subway. Alexander Moore, Sean Cox and Don MacLellan of Faris Lee represented the buyer, a Modesto, California-based private family office, in the acquisition of the property from an ownership group managed by West Valley Properties.