Wednesday, March 20, 2013

Faris Lee Investments Completes $6.72 Million Sale of Multi-Tenant Retail Property Within Aliso Viejo Town Center in Aliso Viejo, CA


  
26731 Aliso Creek Road, Aliso Viejo, CA
 IRVINE, Calif., March 19, 2013 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $6,725,000 sale of a two-story, 16,840-square-foot, free-standing retail building located at 26731 Aliso Creek Road in Aliso Viejo.

Built in 1999, the property is 93 percent occupied by several tenants with the largest being Stadium Brewing Company. 

  It is situated on just over one-acre of land and is located at the heart of the Aliso Viejo Town Center, a 700,000-square-foot regional shopping center, and one of the most dominant retail developments in Orange County.

Dennis Vaccaro
                Dennis Vaccaro and Christopher Tramontano of Faris Lee Investments represented the seller, Novato, Calif.-based Aliso Viejo Investors, LLC, as well as the buyer, Los Angeles-based Aliso Viejo Town Center, LLC.

                “The property was only on the market for three days before we secured a buyer,” said Vaccaro, senior managing director with Faris Lee Investments.

“The buyer had been seeking a property like this in the immediate area for several years. Properties within Aliso Viejo Town Center don’t go on the market very often; as the assets within it are seen as insulated, secure investments with minimal future competing development in the area.

Christopher
Tramontano
“The Aliso Viejo retail trade area is underserved as the community’s master plan has limited retail development, which has subsequently kept lease rates higher than average and vacancy levels lower than average compared to other Orange County locations.”

                Aliso Viejo Town Center is located in the heart of Aliso Viejo and is the main shopping destination for the city’s residents. Major retail anchors at the center include Lowe’s, Ralphs Fresh Fare, Trader Joe’s, a 20-screen Regal Theatre, Michaels, T.J. Maxx, PetSmart, Barnes & Noble and others. The master-planned community of Aliso Viejo is located in South Orange County about four miles northeast of the Pacific Ocean.
  
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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