Faris Lee Arranges Anaheim Retail Sale for $19.5M

Faris Lee Investments’ Nick Miller and Shaun Riley have represented a 1031 investor in the $19.5 million acquisition of Anaheim Resort Centre, a multi-tenant retail property located across the street from Disneyland in Anaheim, CA. The 10,000-square-foot strip center is 100% occupied by nine national and local tenants, all on a triple net-lease basis.

“Our client was heavily focused on acquiring a trophy piece of real estate that he could hold for term, during a time when quality multi-tenant opportunities were in limited supply. This location is arguably the best corner in all of Orange County,” said Miller in a news release.

Miller added, “The NNN scenario creates minimal landlord management, passive income and an ideal investment for a 1031 exchange buyer. Also, multiple tenant leases feature rental increases and long-term leases, generating steady income and hedging against inflation.”