Faris Lee Brokers $11.3M Sale of Sprouts-Occupied Retail Property in Folsom, California
FOLSOM, CALIF. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom. VR Folsom, an Orange County-based private family office, sold the asset to a La Jolla-based buyer for $11.3 million.
Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, while Infinity Investment Properties represented the buyer in the deal.
Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, triple-net lease with 10 years remaining on the term. The grocery store asset is located adjacent to Target, Lowe’s Home Improvement Warehouse and Trader Joe’s.