IRVINE, CALIF. — Irvine-based Faris Lee Investments has completed the sale of a portfolio of five Kohl's department stores. The properties are located in Redondo Beach, Monrovia, Rancho Cordova and Eureka, Calif.; and Henderson, Nev. All of the properties anchor shopping centers and all have new triple-net leases that expire in 2028. Richard Walter and Donald MacLellan of Faris Lee represented the seller, Macerich. Los Angeles-based ING Clarion purchased the Redondo Beach property; Phoenix-based Cole Real Estate Investments purchased the Monrovia and Rancho Cordova properties; Los Angeles-based Stearns Trust purchased the Eureka property; and Nevada-based Williamson Trust purchased the Henderson property. Faris Lee also represented the buyers in each of the transactions except for the Eureka property, in which Phase One Realty represented the buyer. The sale price was not disclosed.
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