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UPLAND, CALIF. — Faris Lee Investments has arranged the sale of a retail property situated on 1.9 acres in Upland. An Atlanta-based family private office sold the asset to the tenant, Bank of America, for $6.1 million, or $653 per square foot.
Bank of America has occupied the 9,348-square-foot building since 1969 and used its right of first refusal to purchase the property, which is located on Foothill Boulevard and Mountain Avenue. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, while Cushman & Wakefield represented the buyer in the deal.