Faris Lee Brokers Sales of Two Retail Assets in Southern California, Colorado Springs

by Amy Works

ORANGE COUNTY, CALIF., AND COLORADO SPRINGS, COLO. — Faris Lee Investments has arranged the sales of two retail properties located in Southern California and Colorado Springs.

In the first deal, an undisclosed seller divested of Brea Center, a grocery-anchored shopping center in Orange County. An undisclosed buyer acquired the asset for $17.6 million. Current tenants include Vons, Bank of America, Pet Wants, Aulestics and Painted Nest. Don MacLellan, Rick Chichester and Jeremy Warren of Faris Lee Investments represented the seller in the transaction.

In the second deal, Sabal Capital Group completed the sale of Carefree Shopping Center, a grocery-anchored neighborhood center in Colorado Springs. An undisclosed buyer acquired the property for $8.5 million. At the time of sale, the property was 62 percent occupied by a variety of tenants, including Save-a-Lot, Family Dollar, Carefree Chiropractic, Appliance Outlet, Pizza Hut and a laundry lounge. MacLellan, Chichester, Warren and Phil Ramming of Faris Lee represented the seller in the transaction.

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