Baldwin Park, Calif. — Faris Lee Investments has completed the $2.7 million sale of a single-tenant NNN-leased property occupied by O’Reilly Auto Parts in Baldwin Park.This sale was the final piece sold by the seller, PCG BP Puente LLC, a single purpose LLC controlled by Paragon Commercial Group, LLC and its investment partners, who previously sold the adjacent parking lot parcel to Kindred Healthcare. The property is contiguous to a freestanding CVS/pharmacy.
The property totals 7,135 square feet on 0.65 acres. The project was a reverse build-to-suit for the tenant, which signed a 15-year lease. Donald MacLellan and Chris Tramontano of Faris Lee Investments represented El Segundo, California-based PCG BP Puente LLC. The buyer, Hill Family Trust, was represented by Dan Willis of Willis Ventures. The closing cap rate was 4.7 percent.
The property totals 7,135 square feet on 0.65 acres. The project was a reverse build-to-suit for the tenant, which signed a 15-year lease. Donald MacLellan and Chris Tramontano of Faris Lee Investments represented El Segundo, California-based PCG BP Puente LLC. The buyer, Hill Family Trust, was represented by Dan Willis of Willis Ventures. The closing cap rate was 4.7 percent.