Faris Lee Investments has recently closed the sale of Solita Restaurant, a newly constructed single-tenant net-leased property situated in Anaheim’s Platinum Triangle. The transaction was completed for a closing price of $7,625,000 or $1,116 per square foot and was acquired by a 1031 investor.
The seller of the property was represented by Senior Managing Director Scott DeYoung along with Managing Principal Jeff Conover and Director Greg Lukosky. On the other hand, Faris Lee also assisted in representing the buyer.
Despite facing challenges such as rising interest rates in the debt market during marketing period,Faris Lee successfully executed this transaction. The team strategically targeted California-based 1031 exchange buyers who had minimal to no debt requirements while actively engaging with Southern California’s investment community.
