Irvine, Calif. – March 3, 2023, - Faris Lee Investments, a leading retail advisory, and investment sales firm, has completed the $3.65 million sale of a corporate executed lease / investment grade credit tenant, with Chase Bank in Helena, MT.
Faris Lee represented the seller in the transaction and sourced an all-cash buyer from Montana.
Located at 3115 N Montana Avenue, the property is the only Chase Bank serving the entire trade area. Chase Bank had a 20-year absolute triple net (NNN) ground lease with 10% rent increases every 5 years.
The team targeted 1031 buyers from the Western States through Faris lee’s 1031 exchange database, highlighting the strength of the credit tenant / S&P: A-. After receiving multiple offers, the transaction closed all cash at 95% of the list price at a 3.7% cap ($1,043 PSF), one of the lowest cap rates for a single-tenant property in the mountain states.
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