FARIS LEE INVESTMENTS BROKERS $28.75 MILLION RETAIL CENTER SALE

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BURBANK, CALIF. — Los Angeles-based AMC Associates LLC has acquired a 66,070-square-foot retail center, which is located at 2500-2600 W. Victory Blvd. in Burbank, for $28.75 million. The two-tenant property is triple-net leased to a 49,695-square-foot Ralph’s and a 16,375-square-foot CVS/pharmacy. Steve Dietrich of Financial Research Group, Terry Marks of National Net Lease Realty and Clifford Letovsky of Letovsky Real Estate Corp. represented the buyer; Shaun Riley and Richard Walter of Irvine, Calif.-based Faris Lee Investments represented the seller, Scottsdale, Ariz.-based Univest Development Group, in the transaction.

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