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BAKERSFIELD, CALIF. — Faris Lee Investments has arranged the sale of a freestanding retail property located at 2690 Mount Vernon in Bakersfield. Southern California-based Intertex Property Advisors acquired the building from a Los Angeles-based developer for $5.4 million.
The property is absolute triple-net leased to CVS Y Mas, which has occupied this location for 48 years. Other tenants include 99 Cents Only, Chase Bank, Arco AM/PM and Denny’s.
Sean Cox and Jeff Conover of Faris Lee Investments represented the seller, while Cushman & Wakefield represented the buyer in the transaction.