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Faris Lee Arranges $7M Sale of Retail Property Leased to Floor & Décor in McAllen, Texas rebusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rebusinessonline.com Daily Mail and Mail on Sunday newspapers.
Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the portfolio sale of ten operating Dairy Queen Restaurants in the state of Louisiana. Faris Lee Investments bifurcated the sale of the real estate and business to maximize the proceeds for the seller. The sale of the real estate and business for all 10 locations closed simultaneously with two separate buyers at an undisclosed price.
Faris Lee Arranges Sales of Two Grocery Stores in Nevada, Washington for $22.4M rebusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rebusinessonline.com Daily Mail and Mail on Sunday newspapers.
Share this article Share this article SIGNAL HILL, Calif., May 11, 2021 /PRNewswire/ -- In one of the most complex retail transactions during COVID-19, Scott DeYoung and Jeff Conover of Faris Lee Investments completed the sale of Signal Hill Gateway in Long Beach to four different buyers for a total of $28.3 million, which is a 5.27% cap with a 5% vacancy factor. All sales closed within 75 days from beginning to end. The high-performing, triple-net urban infill community center was re-parcelized to achieve optimum pricing for the seller, Signal Hill Petroleum, which ultimately received 99.3% of Signal Hill Gateway's list price despite the pandemic. Signal Hill Petroleum will retain ownership of a one-acre parcel within the shopping center that contains active oil wells and drill sites. The first-in-class oil operator will also stay on as Signal Hill Gateway's common area maintenance manager to ensure a smooth transition to the new buyers. Faris Lee helped the buyers and seller reach a common area maintenance (CAM) sharing agreement and amended the center's covenants, conditions, and restrictions (CC&R) to create efficiency for multiple landowners in this fully occupied, 100% national credit tenant shopping center.
INDIANAPOLIS, Feb. 8, 2021 /PRNewswire/ -- Thompson Thrift Retail Group (TTRG), a wholly owned company of Indianapolis-based Thompson Thrift, announced today that it sold The Shops at Mattoon Marketplace, a