IRVINE, Calif. - April 18, 2022 - Faris Lee Investments is pleased to announce the recent sale of a single-tenant, absolute NNN leased, Mattress Firm in McAllen, TX.

The property was situated in the heart of the trade area within blocks of crowd generators such as Costco, Lowe’s, Sam’s Club, and Walmart. It is easily accessible from the I-2 which is the main freeway running across McAllen.

The listing team overcame numerous property level challenges, including (1) a short-term lease (2 years remaining on primary lease term), (2) franchise guaranteed lease verse corporate, and (3) a large Mattress Firm store (8,500 SF). These challenges were overcome by getting investors to focus on the intrinsic of the real estate, providing financials for the franchisee, and the absolute net lease structure of the lease.

Overall the listing team generated 12 offers and closed near the asking price with a Houston-based investor.

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