Faris Lee Investments has recently closed the sale of Solita Restaurant, a newly built single-tenant net-leased property located in Anaheim’s Platinum Triangle. The property was sold to a 1031 investor for $7,625,000 at a rate of $1,116 per square foot.
The seller was represented by senior managing director Scott DeYoung and managing principal Jeff Conover along with director Greg Lukosky. They successfully negotiated the deal on behalf of Orange County-based real estate developer and investor Burnham-Ward Properties as well as the buyer.
Despite facing challenges in the debt market due to rising interest rates during the marketing period, Faris Lee executed this transaction with expertise. The team strategically targeted California 1031 exchange buyers who had minimal or no debt requirements while actively engaging with Southern California’s local investment community.
This sale marks another successful achievement for Faris Lee Investments in their commitment towards delivering exceptional results for their clients.
