Faris Lee Investment Arranges the $3.45 Million All-Cash Sale of a 2-Tenant NNN Property in Victorville, CA

IRVINE, CALIF, September 21, 2022 - Faris Lee Investments arranges the $3.45 million sale of a 2-tenant triple net leased property in Victorville, CA. The building is located at 14678 7th Street.

Faris Lee Investments represented the seller, a Southern California developer, and sold to a Southern California based private investor in a 1031 exchange that included an escrow period of 10 days.

The offering presented an opportunity to acquire two national tenants, Western Dental and Fiesta Auto Insurance, both had just signed brand new long-term triple net leases, providing an investor with a secure and stable asset.

Faris Lee's marketing strategy highlighted the long-term lease, newer construction, and ease of management. The listing team heavily targeted investors in 1031 exchanges resulting in several offers throughout the marketing period. The transaction closed all cash at 98% of the list price with a buyer in a 1031 exchange.

About Faris Lee Investments: Faris Lee Investments is a retail brokerage advisory firm founded in 1996 and is based in Irvine, California. The firm specializes in commercial real estate investment sales, brokerage, and advisory services. In addition, the firm provides a national marketing platform of properties for sale, asset appraisal, property valuation, debt structuring, 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 institutional 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


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