337
LAKE ELSINORE, CALIF. — Faris Lee Investments has completed the more than $8.8 million sale of a 45,560-square-foot retail building located at 18550 Dexter Ave. in Lake Elsinore. Built in 2007 and fully occupied by L.A. Fitness, the property includes an indoor swimming pool and 228 parking spaces. Faris Lee’s Richard Walter and Chris Tramontano represented the seller/developer, Aliso Viejo, Calif.-based California Grand Investments LLC, in partnership with Lake Fitness LLC. The private-trust buyer from Villa Park, Calif., was participating in a 1031 exchange.