Faris Lee Investments Facilitates the $2.951 Million Sale of Tire Discounters In Mableton, GA

MABLETON, GA – September 7, 2023 - Faris Lee Investments, a leading retail advisory and investment sales firm, is pleased to announce the successful sale of a $2.951 million corporate guarantee Tire Discounters in Mableton, GA. The buyer, from Los Angeles, CA, took advantage of a 1031 exchange opportunity, and the transaction closed in 35 days.

Hunter Steffien, Director at Faris Lee Investments represented the seller in the transaction.

Tire Discounters has made a substantial commitment by entering into a 15-year absolute NNN lease, featuring 7% rent increases every five years. This lease structure not only ensures long-term security for the investor but also serves as an effective hedge against inflation. Such dedication from a national tenant is a testament to the desirability of the location and underscores the formidable barrier to entry within this trade area.

“The marketing strategy revolved around targeting out-of-state 1031 Exchange buyers in search of long-term NNN Rent. The strategy also emphasized highlighting the attractiveness of the trade area, particularly showcasing two grocery shopping centers located within a one-mile radius of the subject property,” said Steffien. "Furthermore, the marketing approach involved drawing comparisons between the retail real estate fundamentals of the subject property and other 'Tire' and 'Auto' investment properties that lacked intrinsic value,” he added.

The results of this strategic approach were impressive. Within just nine days of launching the marketing campaign, a 1031 exchange buyer from Los Angeles was secured, and the transaction closed within a remarkably swift 36 days. Notably, the closing was accomplished with a 100 basis point advantage over seven other Tire Discounters investment properties that closed during the same month. Furthermore, the team successfully executed a double escrow closing, which not only facilitated the transaction but also saved costs and mitigated risks for their client.

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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