Fontana, CA – October 24, 2023 – Faris Lee Investments, a leading national real estate advisory firm, is pleased to announce the successful closing of a STNL Dutch Bros located in Fontana, California. The property was acquired all-cash for $2,300,000, 4.74% Cap Rate.
Jeff Conover, Principal, and Scott DeYoung, Senior Managing Director at Faris Lee Investments represented the seller, a local Southern California developer, and also represented the California 1031 Exchange buyer in the transaction.
Dutch Bros, a strong national tenant with over 572 location in 12 states signed a 15-year absolute NNN ground lease, ensuring a long-term and stable investment opportunity for the buyer. This property features a double drive-thru pad building situated in front of the Winco Supermarket.
Faris Lee Investments marketing strategy focused on California 1031 Exchange buyers, successfully positioning the strength of the tenant and the trade area. The team highlighted the property as a long-term secure and stable investment with a growing income stream, located within a major retail corridor, which attracted multiple buyer offers.
The closing was a pre-sale transaction. The escrow closed before the construction of the premises was completed & tenant opening for business.
Faris Lee Investments' ability to navigate complex transactions and deliver exceptional results continues to be a driving force in the commercial real estate industry. This recent deal reinforces the firm's reputation for excellence and its commitment to securing valuable investment opportunities for its clients.
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