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California  + Retail  | 

Faris Lee Investments Completes Pair of Moreno Valley Sales

Irvine, CA-based Faris Lee Investments completed the sales of two single-tenant, free-standing retail properties in Moreno Valley, CA. The transactions involve a 16,730-square-foot Rite Aid-occupied building that sold for $5 million, as well as a 2,995-square-foot building, which is ground leased by KFC, that sold for $1.43 million.

The 1.66-acre Rite Aid site is located at 24991 Alessandro Blvd. and closed at a cap rate of 5.69%. Faris Lee Investments’ Jeff Conover represented the seller, P & A Development. Century 21 Golden Realty represented the buyer, Karaglanov Trust.

The .73-acre KFC site is located at 16040 Perris Blvd. and closed at a cap rate of 5%. Conover represented the seller, IPX. Coldwell Banker Commercial represented the buyer, llDO Investments.

Read More News Stories About: Coldwell Banker Commercial
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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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