Connect News Commercial Real Estate news for every market and every facet, every day.
Connect Events Live and virtual events bringing together the best of information and networking.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Connect CREative A full service marketing and PR agency.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
New call-to-action
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.
Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course

Classroom Links

Advertise, Promote, Attend, Create – Work with Connect.
A full service marketing and PR agency.
Meet the team behind the machine and taste a little of the secret sauce.

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Orange County  + Retail  |  June 21, 2022
Faris Lee Arranges $11M Smart & Final Acquisition
By: Mark Nieto

Faris Lee Arranges $11M Smart & Final Acquisition

Orange County-based Faris Lee Investments has arranged the $11 million sale of a 26,000-square-foot single-tenant building leased to Smart & Final in Bakersfield, CA. The firm’s Sean Cox and Alex Moore represented the seller, a Southern California private investor.

The property is located at 1725 Golden State Ave., the main thoroughfare between Highway 99 and Highway 178. Smart & Final has a long-term, absolute triple-net-lease with rental increases, providing investors long term stability, a growing cash flow and a hedge against inflation.

“Since the beginning of the COVID pandemic we have seen a large increase in net-lease investor demand for strong credit grocery stores and other essential business tenants,” said Moore in a news release.

Connect

Inside The Story

Faris Lee

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
Chase-08-cube
Chase-08-cube