Faris Lee Investments successfully facilitated the sale of the Shops at Plaza Empresa, which marks phase one of the Plaza Empresa Commercial Center’s division in Rancho Santa Margarita. The property was sold for $5,208,000 with a 6.24% cap rate.
The seller was represented by senior managing director Scott DeYoung and managing principals Jeff Conover and Shaun Riley. Through their efforts, multiple offers were generated and a competitive bidding environment was created resulting in an all-cash 1031 exchange investor from Los Angeles closing escrow.
Investors had the opportunity to acquire a portion of this well-established commercial center located in a master-planned community. With majority income coming from health/wellness businesses and remaining income from pet care services, this property offered attractive investment potential. Additionally, its full occupancy with only five tenants provided immediate cash flow without any near-term leasing requirements.
This transaction is part of Faris Lee’s successful strategy to break up the Plaza Empresa Commercial Center into separate phases for optimal returns on investment opportunities.
