**Faris Lee Investments Closes $5.2M Sale of Crunch Fitness in Corona**
Faris Lee Investments has completed the $5.2 million sale of a Crunch Fitness property located in Corona, California. The transaction closed swiftly, with a 23-day escrow period and an all-cash buyer who completed due diligence in just 17 days.
The investment sales team, led by Senior Managing Director Scott DeYoung, Managing Principals Shaun Riley and Jeff Conover, and Director Greg Lukosky, specifically targeted buyers focused on single-tenant net-leased properties in Southern California. Their strategy produced multiple offers in a short time frame. Positioning the property as part of a Stater Bros.-anchored shopping center played a key role in attracting strong interest from investors.
Previously listed with another brokerage for over three years, the property presented unique challenges. Faris Lee Investments successfully navigated concerns related to the shorter-term lease with a fitness tenant, as well as unusual parcel management and declarant responsibilities not typically found in single-tenant net-leased deals.
Despite these complexities, Faris Lee’s focused marketing and strategic positioning led to a successful transaction in record time.
