IRVINE, CA– Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the sales of two single-tenant NNN leased bank properties in Los Angeles County totaling more than $7.8 million. The assets include a property occupied by California Bank & Trust in San Dimas and a property occupied by Chase Bank in Eagle Rock.
Built in 1989, the California Bank & Trust property totals 10,415 square feet and sold for $3,681,000. It is situated on .82 acres and is located at 530 W. Bonita Avenue in San Dimas.
Dennis Vaccaro (top right photo), senior managing director, and Matthew Mousavi (lower left photo), director, with Faris Lee Investments represented the buyer, 850 “F” Street LLC from San Jose, Calif. Vaccaro and Mousavi also represented the seller, Newport Beach-based CIM Financial LLC. The closing cap rate was 5.95 percent.
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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