Brea, CA – November 29, 2023 - Faris Lee Investments, a leading retail advisory and investment sales firm, is pleased to announce the successful sale of Brea Promenade, in Brea, CA. The transaction, valued at $5.15 million, underscores Faris Lee's commitment to delivering exceptional results for its clients in the ever-evolving real estate market.

Scott DeYoung, Senior Managing Director at Faris Lee Investments represented the seller, Nesbitt Partners Brea Venture, LTD., in the transaction and sourced a California based 1031 exchange buyer.

The Brea Promenade, strategically situated at a signalized hard corner entrance to Brea Mall and near the 57 Freeway and the Cal State University - Fullerton Campus.

Despite facing challenges such as the property being held under a ground lease with 57 years remaining and 84% occupied, Faris Lee navigated the objections by guiding the Buyer through value-add opportunity and the high in place yield. In addition, Faris Lee Investments was actively involved through the escrow process, engaging the buyer's lender, and collaborating with the ground lessor to ensure a smooth ownership transition.

"We are thrilled to have successfully closed this transaction," said Scott DeYoung. "The impressive results reflect our team's ability to deliver exceptional value with innovative solutions, especially with the challenges posed by the rising interest rate environment and inflationary market conditions. We look forward to continuing to provide strategic guidance and superior service to our clients."

About Faris Lee Investments:
Faris Lee Investments is one of the leading retail investment firms in the US founded in 1996 and is based in Irvine, California. In addition, the firm provides a national marketing platform for their property offerings, property valuation, debt structuring, and negotiation, market research, and analysis services. Faris Lee combines underwriting and research that exceeds industry standards with a marketing strategy to transform investment potential, enhance value and provide their clients the competitive advantage needed when making investment decisions. The firm also serves as retail investment advisors in the areas of acquisitions and dispositions, merchant banking, distressed asset disposition, private equity, and corporate sale-leaseback. For more information, visit www.farislee.com