Faris Lee Investments completed the $16.7 million sale of Zecca Plaza (110,660 square feet), a grocery-anchored shopping center located in Gallup, New Mexico. With high visitor counts and below replacement cost, the property presents a stable income stream and long-term anchor leases for a high-performing daily needs neighborhood center. 

Rhino Investments sold the property to Odeh Investments. The Faris Lee Investments team, comprising Don MacLellan, Jeff Conover, Scott DeYoung, and Chris DePierro, represented Rhino Investments in the transaction.

The marketing campaign highlighted the center’s extensive regional draw, accessibility to I-40, and its compelling value proposition relative to comparable assets in the market. This targeted approach attracted multiple qualified investors. 

Over the last 24 months, Faris Lee Investments has closed eight retail transactions in New Mexico, with a total consideration exceeding $60 million.