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California  + Orange County  + Net Lease  | 

Faris Lee Closes Anaheim Restaurant Sale to 1031 Buyer

Faris Lee Investments completed the sale of Solita Restaurant, a new single-tenant net-leased restaurant located in the Platinum Triangle of Anaheim. The property was acquired by a 1031 investor for a closing price of $7,625,000, or $1,116 per square foot.

Senior managing director Scott DeYoung, managing principal Jeff Conover and director Greg Lukosky, represented the seller, Orange County-based real estate developer and investor Burnham-Ward Properties, as well as the buyer

Despite a challenging debt market with rising interest rates during the marketing period, Faris Lee completed a successful transaction. The team strategically focused on California 1031 exchange buyers with little to no debt requirements and actively targeted the local Southern California investment community.

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Faris Lee

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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