Gardena, CA - January 25, 2022 - Faris Lee Investments has brokered the $3.86 million acquisition of a freestanding, single-tenant, NNN leased Dollar Tree in Gardena, CA.
The national net leased investment team represented a southern California based 1031 exchange buyer from Los Angeles, CA. Faris Lee represented the client on the sale of their down-leg property and closed on this Dollar Tree property for their up-leg. The tenant, Dollar Tree Stores, Inc., was on a short term lease with only 4 years remaining on the term.
The property is located at the signalized, hard corner intersection of S. Western Avenue and 166th street in Los Angeles County.
Faris Lee Investments also assisted in obtaining the buyer financing from a local Credit Union and closed at a 4.87% cap which represented $322 per square foot.
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 standard 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.