Gallup, NM – Faris Lee Investments, a leading national retail investment sales firm, has successfully completed the $16,700,000 sale of Zecca Plaza (110,660 SF), a high performing grocery-anchored shopping center located in Gallup, New Mexico. Zecca Plaza serves as a key retail destination for the region, drawing customers from a trade area extending up to 40 miles. With high visitor counts and below replacement cost, the property presents a stable income stream and long-term anchor leases for a high performing daily needs neighborhood center.
The property was sold by Rhino Investments to Odeh Investments, a Southern California investor with existing holdings in similar trade areas. The Faris Lee Investments team – Don MacLellan (Managing Principal), Jeff Conover (Managing Principal), Scott DeYoung (Senior Managing Director), and Chris DePierro (Managing Director) represented the seller in the transaction. Closed within the seller’s required timeframe with a highly qualified buyer.
Faris Lee executed a comprehensive marketing strategy focused on the property’s dominant trade area positioning and strong anchor tenant performance. The campaign highlighted the center’s extensive regional draw, accessibility to I-40, and its compelling value proposition relative to comparable assets in the market. This targeted approach attracted multiple qualified investors, ultimately securing a Southern California-based buyer who recognized the asset’s stability and growth potential.
In the last 24 months, Faris Lee Investments has closed 8 retail transactions in New Mexico with a total consideration of over $60 Million dollars.
This transaction further highlights Faris Lee Investments’ expertise in marketing grocery-anchored and daily-needs retail assets nationwide, achieving premium pricing and optimal results for its clients.
About Faris Lee Investments:
Faris Lee Investments is one of the nation’s leading retail investment advisory firms, and among the first to operate under a unified, team-oriented platform. The company combines advanced underwriting, market research, and creative marketing strategies designed to maximize client value. Faris Lee provides advisory services across dispositions, acquisitions, recapitalizations, distressed asset resolutions, portfolio sales, and corporate sale-leaseback transactions.
For more information, visit www.farislee.com