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

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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.

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