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California  + Orange County  + Retail  | 

Faris Lee Closes San Clemente Retail Sale to Family Office

Faris Lee Investments completed the sale of Plaza Pacifica, a neighborhood retail center located in San Clemente’s affluent South Orange County trade area. The property closed at a price of $21,000,000. The center features a strong mix of daily-needs retailers and has demonstrated long-term historical occupancy with consistent performance.

Don MacLellan, managing principal from Faris Lee Investments, executed a targeted marketing strategy emphasizing the long-term real estate fundamentals of the asset. The campaign focused on attracting 1031 exchange buyers and high-net-worth family offices, while highlighting the center’s flexible shop sizes, strong demand for smaller-format retail and no restrictions on food concepts.

The offering generated multiple competitive offers, with a high-net-worth, Orange County-based family office buyer selected. The transaction closed at the contract price in less than 60 days based on the buyer’s need to close before year-end. In addition, Faris Lee facilitated a life company loan assumption approval within 30 days.

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Faris Lee's MacLellan

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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