Faris Lee Brokers $3.9M Sale of IHOP-Occupied Property in Palm Springs, California


IHOP has occupied the 4,600-square-foot restaurant building in Palm Springs, Calif., for more than 26 years.

PALM SPRINGS, CALIF. — Faris Lee Investments has arranged the sale of a restaurant property located in Palm Springs. An undisclosed buyer acquired the asset for $3.9 million.

IHOP occupies the 4,600-square-foot freestanding building on a triple-net lease. The restaurant has occupied the building for more than 26 years, with a recent 10-year lease extension.

Nick Coo, Matt Brooks, Tom Chichester and Joe Chichester of Faris Lee represented the undisclosed seller in the deal.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News