Faris Lee Arranges $20M Sale of Shopping Center in Temecula

Faris Lee Investment’s Joe Chichester and Matt Brooks have arranged the sale of a value-add shopping center anchored by Best Buy and Fitness 19 in Temecula, CA. The duo represented Centers Dynamic Partners and United Growth in the transaction, while the Seller, Vail Commercial Prop, was the developer and owner of the shopping center. 

The 70,000-square-foot Center is located at 32881 Temecula Parkway on 7.5 acres, and is positioned in a highly visible location in a high-growth trade area with an affluent population.  

Chichester said in a news release, “The Buyer saw and believes in the value-add components of this center, and they provided the Seller with a high degree of certainty surrounding the closing, which created a mutually beneficial relationship and ultimately a successful transaction for both parties.”