As a Managing Director at Faris Lee Investments, Mr. Chichester advises clients in the acquisition and disposition of single and multi-tenant retail investments nationwide. He specializes in retail assets of all types within the single and multi-tenant designations, including NNN, anchored, and neighborhood, power and lifestyle centers. Tom has over 8 years of hands-on experience in the commercial real estate industry.
Tom’s expertise is the strategic and diligent marketing of properties to meet the price and timing objectives of the owner. His experience includes: single tenant transactions; portfolio sales; sale-leaseback portfolio sales; stabilized, core multi–tenant centers; neighborhood, community and power centers; developer sales and pre-sales; and distressed asset sales throughout the US.
A few recent and noteworthy closings include: Gateway Center (sold Q1 2017) – $25 million sale of a 90,000 SF retail center in Escondido, California. The property was 95 percent occupied with anchor tenants, Michaels and Barnes & Noble; Starbucks in Lake Forest, California (sold Q3 2017) – Record breaking cap rate of 3.48%, which is the lowest cap rate ever for a Starbucks-occupied property nationally (per CoStar); CVS in Urban San Francisco, California (sold Q4 2017) – Record breaking sale at $16.8 million / 4% cap rate, which is the lowest cap rate ever for a single-tenant CVS sold above $10 million on a national basis and achieved one of the highest sales prices and highest price per square foot of $1,034 for a single tenant; United Office Building (sold Q4 2017) – $15 million / 5.3% cap rate sale of single tenant office building in Long Beach, California. In the last 12 months, Mr. Chichester has directly transacted more than 35 individual properties, with an aggregate value exceeding $225 million.
Mr. Chichester is an Alumni of California State University Long Beach, where he received his bachelor’s degree. He is an alumnus of the Sea Education Association (University of Boston) and participated in Semester at Sea through the University of Virginia. Tom is an active member of the International Council of Shopping Centers (ICSC). In addition, Tom and his wife Kim, just had their first baby daughter Molly, in March 2018. Tom and Kim, live in Costa Mesa, CA and enjoy an active lifestyle inclusive of surfing, sailing, hiking, and traveling to name a few.