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Faris Lee Sells Sports Authority Store for $7.85 Million

by Nate Hunter

Moreno Valley, Calif. — A 40,000-square-foot Sports Authority store has traded for $7.85 million.

Moreno Valley, Calif. — Faris Lee Investments has brokered the sale of a 40,000-square-foot retail property occupied by Sports Authority in Moreno Valley. The property was built in 2009 and sits on 3.35 acres along Day Faris Lee has sold a Sports Authority location in Moreno Valley, Calif., to an investor from China for $7.85 million.Street in the TownGate Crossing retail center, near the intersection of the 60 and 215 freeways. Dennis Vaccaro and Donald MacLellan of Faris Lee represented the seller, Newport Beach, Calif.-based Gateway Company, L.C. The buyer was Day Moreno Valley LLC, a China-based investor, who paid all-cash and was represented by a Michigan-based advisor. The property closed in 28 days.

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