Monroe, GA, October 19, 2023 - Faris Lee Investments, a leading commercial real estate advisory firm, is pleased to announce the successful sale of a brand-new Starbucks drive-thru located in Monroe, Georgia. The buyer was represented by Faris Lee Investments, and the transaction was completed for a total of $2,100,000.
The deal was facilitated by Greg Lukosky, Director, Jeff Conover, Principal, and Scott DeYoung, Senior Managing Director, at Faris Lee Investments, who represented the buyer. Their dedication and expertise were instrumental in closing the transaction within a remarkably short timeframe, just nine days after the offer was accepted.
The property is part of the Atlanta Metropolitan Statistical Area (MSA). This Starbucks features a new 10-year NNN lease, corporately guaranteed by Starbucks, and includes 10% rental increases every five years in the primary term and in the four five-year option periods.
Strategically positioned across from a Walmart Supercenter and adjacent to a highly active Chick-Fil-A drive-thru with shared access, this Starbucks enjoys excellent visibility and easy access right off Hwy 138 and W Spring St. It is located near the Monroe Pavilion, a newly developed 400,000 SF mixed-use center anchored by Publix. The property also benefits from its proximity to Facebook's 400-acre Data Center, just 15 minutes away.
Faris Lee's marketing strategy involved several key components. First, the firm utilized its existing retail platforms to efficiently locate the property, ensuring maximum visibility within the target market.
The marketing strategy, coupled with the expertise and dedication of Faris Lee's team, yielded impressive results. The transaction was successfully closed in a remarkably short time frame, with financing secured within nine days after the offer was accepted.
Moreover, the 1031 Exchange was closed three days prior to the final upleg date, demonstrating the efficiency and effectiveness of Faris Lee's services. The firm managed all parties involved in the transaction thoroughly, including the buyer, seller, lender, escrow, title, and respective attorneys, ensuring a smooth and successful closing.
This transaction exemplifies Faris Lee's commitment to delivering exceptional results and its ability to navigate complex real estate deals with skill and precision.
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