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Faris Lee Investments Brokers $22.6M Sale of Central Plaza Shopping Center in Lake Elsinore, California

Ulta-Central-Plaza-Lake-Elsinore-CA

ULTA Beauty was sold for $2.8 million as part of a break-up strategy for Central Plaza Shopping Center in Lake Elsinore, Calif.

LAKE ELSINORE, CALIF. — Faris Lee Investments has arranged the $22.6 million sale of Central Plaza Shopping Center in Lake Elsinore, with the $2.8 million sale of ULTA Beauty as the last piece of the break-up strategy for asset. The seller was HFC/PRP Elsinore LLC. The names of the buyers were not released.

The Faris Lee team arranged the sale of a total of seven different properties within the center to seven different buyers. The transactions include a single-tenant, net-leased Marshalls; a single-tenant, net-leased Panera Bread with drive-thru; a two-tenant pad occupied by Pieology and Ono Hawaiian BBQ; a single-tenant, net-leased Five Below; a single-tenant, net-leased Sketchers; a single-tenant, net-leased Miguel Jr.’s with drive-thru; and the single-tenant, net-leased ULTA Beauty.

Situated on 7.3 acres, Central Plaza is a 66,000-square-foot retail center located at the junction of Interstate 15 and Central Avenue.

Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller in all the transactions.

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