IRVINE, CA, May 15, 2012 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the sales of three newly constructed single-tenant NNN leased properties within a neighborhood shopping center in Murrieta, Calif. which include Del Taco, Davita Dialysis, and Mountain View Tire and Service/Goodyear.
The sales are valued at a total of $8.4 million.
Donald MacLellan (middle right photo), senior managing director, and Christopher Tramontano (middle left photo) director, with Faris Lee Investments represented the seller and developer of the properties, Newport Beach, Calif.-based Sierra Lane Partners LLC.
The transactions were part of a complicated sales strategy. First, instead of being marketed as one investment opportunity, Faris Lee advised the seller on a break-up strategy. This tactic maximized value of the properties by selling them off individually to increase the buyer pool to include smaller investors.
Second, Faris Lee began marketing the properties before they had completed construction as part of a pre-sale strategy.
“The developer of these properties wanted to garner the highest sales price on the assets, while at the same time capitalize on its investment as quickly as possible once the properties were completed,” said MacLellan.
“Faris Lee was engaged in advising the seller early in the construction phase and created a strategy to break up the land parcels so they could be sold individually, and then began marketing the properties during construction in order to close escrow as soon as possible once they completed.”For a complete copy of the company’s news release, please contact:
Darcie Giacchetto,
949.278.6224
Spaulding Thompson & Associates
For Faris Lee Investments
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