**Faris Lee Investments Closes $21M Sale of Plaza Pacifica in San Clemente**
Faris Lee Investments has successfully completed the sale of Plaza Pacifica, a neighborhood retail center located in the affluent South Orange County city of San Clemente. The property sold for $21,000,000 and maintains a strong tenant mix of daily-needs retailers. With a long history of steady occupancy rates and reliable performance, the center remains a valuable retail asset in the area.
Don MacLellan, Managing Principal at Faris Lee Investments, spearheaded a targeted marketing effort that highlighted the core real estate strengths of the property. The strategy focused on attracting 1031 exchange buyers and high-net-worth family offices by emphasizing the center’s flexible unit sizes, high demand for small-format retail, and lack of restrictions on food-related tenants.
The campaign produced multiple competitive offers and ultimately secured a buyer: a high-net-worth family office based in Orange County. The transaction closed at the contract price in less than 60 days, a timeline necessitated by the buyer’s year-end closing requirements. Faris Lee also facilitated the successful assumption of a life company loan within 30 days, further streamlining the closing process.
