IRVINE, CA – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has announced it has completed the sales of ten properties occupied by Ruby Tuesday restaurants for a total of $22 million.
Six of the eight properties were sold for $12.8 million to a private investor from Southern California. The properties included:
• Pooler, GA: 110 Pooler Parkway (4,645 SF)
• Rock Hill, SC: 1410 Old Springdale Road (5,655 SF)
• North Charleston, SC: 7400 Northside Dr. (4,658 SF)
• Durham, NC: 210 NC Highway 54 (4,959 SF)
• Wytheville, VA: 145 Commonwealth Ave (5,097 SF)
• Harrisonburg, VA: 111 Burgess Road (5,084 SF)
The properties are all located in strong locations, include new, NNN absolute 15-year lease terms and annual rent increases, and were sold at record-breaking cap rates.
Matt Mousavi (middle right photo), director with Faris Lee Investments, represented the seller, Ruby Tuesday, Inc. (NYSE: RT). In December 2011, Faris Lee had been named the exclusive broker to market a portfolio of properties occupied by Ruby Tuesday throughout the Eastern United States.
According to Mousavi, 21 of the properties have now sold or are currently in escrow.
For more information, please visit http://www.farislee.com/.
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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