Faris Lee Brokers $27M Sale of Santee Retail Center

Faris Lee Investments has arranged the $27 million sale of Santee Town Center, a 107,000-square-foot, 100% occupied shopping center in Santee, CA. The firm’s Sean Cox & Alex Moore, Directors, Don MacLellan, Managing Principal and Gene Ventura, Senior Managing Director represented the seller in the transaction, Union City Investments, and the buyer, San Diego-based Brixton Capital.

The retail center is comprised of strong national tenants including Ross Dress for Less, Dollar Tree and Michaels. “Based on the quality of the real estate and the stability of the San Diego retail market, we focused on web capitalized local San Diego investors with a high certainty of close and the ability to close within seller’s desired timeframes,” said Cox in a news release.

Mark Selman, president of Brixton Capital, said, “We are grateful to have strong relationships with brokerage firms in the real estate industry to help us find quality off-market opportunities like Santee Town Center.”