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California  + San Diego  + Retail  | 
Faris Lee Investments closed the $5.9-million pre-sale of a newly built Starbucks and Pacific Dental in Oceanside, California

Faris Lee Arranges Pre-Sale of Oceanside Retail in 1031 Deal

Faris Lee Investments closed the pre-sale of a newly built Starbucks and Pacific Dental at Pacific Coast Plaza in Oceanside. The transaction closed at a sale price of $5,880,000 or $1,176 per square foot, with a cap rate of 4.99%.

Managing principals Jeff Conover and Don MacLellan and managing directors Scott DeYoung, Sr. and Chris DePierro represented the seller, an Orange County-based developer. Managing principal Shaun Riley represented the all-cash buyer from Los Angeles County, who utilized a 1031 exchange to secure the property.

“This transaction required Faris Lee Investments to act as a team project manager coordinating among construction, city, tenants and developer in order to have the needed timeline thresholds required by the buyer,“ said MacLellan.

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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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