San Jacinto, CA — January 10th, 2024 - Faris Lee Investments proudly facilitated the successful transaction of a 4.93-acre commercial land parcel located in an opportunity zone in the City of San Jacinto, CA at $1.1 million.
Scott DeYoung, Sr Managing Director, Jeff Conover, Managing Principal, and Greg Lukosky, Director, actively represented the seller, an Illinois-based developer, and procured the buyer, an experienced hotel operator/developer from Orange County, CA.
Situated along State Street near Ramona Expressway (Hwy 79), the 4.93-acre parcel is positioned adjacent to a recently constructed Dunkin Donuts/Baskin Robbins retail pad development. Additionally, its proximity to the Mid County Parkway Freeway enhances its appeal as a vital link connecting San Jacinto to Perris via Interstate 215.
Leveraging the flexible mixed-use zoning and located in an opportunity zone, the Faris Lee Investments team maximized the property's value through extensive marketing to various commercial users and buyers. Marketing efforts were diligently expanded to include hotels, retail, medical offices, multifamily and educational establishments. The use of Faris Lee Investments' proprietary national marketing platforms played a pivotal role in attracting a diverse and extensive buyer pool.
The transaction achieved remarkable success, realizing over 95% of the list price and closing in less than 60 days after escrow opened.
About Faris Lee Investments:
Faris Lee Investments is a leading national retail investment 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