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Faris Lee Completes Phase One of Rancho Santa Margarita Break-Up
Faris Lee Investments arranged the sale of the Shops at Plaza Empresa, representing phase one of the breakup of the Plaza Empresa Commercial Center in Rancho Santa Margarita. The property sold at $5,208,000, representing a 6.24% cap rate.
Senior managing director Scott DeYoung and managing principals Jeff Conover and Shaun Riley represented the seller. The Faris Lee team generated multiple offers and created a competitive bidding environment. Escrow closed with a Los Angeles-based, all-cash 1031 exchange investor.
The Shops at Plaza Empresa offered investors an opportunity to acquire a portion of a well-established, center-of-town commercial center in a master-planned community. Seventy-two percent of the income stream derives from health/wellness uses and the remainder from pet care uses. The property, with only five tenants, featured full occupancy and provided immediate cash flow without the need for near-term leasing.
- ◦Sale/Acquisition
