REBusinessOnline

Faris Lee Brokers $4.3M Sale of Property Leased to Starbucks in Metro Los Angeles

2701-N-Grand-Ave-Los-Angeles-CA

Starbucks recently signed a 10-year, corporate-guaranteed lease at the site, which is located at 2701 N. Grand Ave., 30 miles southeast of downtown Los Angeles.

SANTA ANA, CALIF. — Faris Lee Investments has brokered the $4.3 million sale of a retail property leased to Starbucks Coffee in Santa Ana. Starbucks recently signed a 10-year, corporate-guaranteed lease at the freestanding building, which is located at 2701 N. Grand Ave., 30 miles southeast of downtown Los Angeles.

Shaun Riley and Nick Miller of Faris Lee represented the buyer, an Orange County, Calif.-based private family investor, in the transaction. The sale closed five days before the buyer’s deadline for completing a 1031 exchange. Patrick Wade and Alex Kozakov of CBRE represented the undisclosed seller.

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