TURLOCK, CALIF. — Faris Lee Investments has brokered the sale of Turlock Town Center, a community retail center located at 503-795 N. Golden State Blvd. in Turlock. A California-based developer sold the asset to an undisclosed buyer in a 1031 exchange for $37.4 million.
Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal.
Situated on 8.4 acres, Turlock Town Center features 144,364 square feet of retail space. At the time of sale, the property was fully leased to 29 in-line tenants and five retail pad tenants. Current tenants include Smart & Final, with a new 15-year lease, Rite Aid, dd’s discount, Big 5 Sporting Goods and Goodwill.