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| 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.
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| 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.
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| 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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