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Faris Lee Investments has completed the $14 million presale of a 10-year triple net lease property occupied by Tesla Motors

Faris Lee Completes $14M Presale of Tesla-Leased Property

Faris Lee Investments has completed the $14 million presale of a 10-year triple net lease property occupied by Tesla Motors in the Atlanta suburb of Fayetteville, GA. 

Director Hunter Steffien, Principal Jeff Conover, and Senior Managing Director Scott DeYoung represented the seller. After receiving multiple offers, the transaction closed an all cash 1031 exchange family office from Southern California at a 5.55-percent cap rate. 

The fully renovated 66,324-square-foot property is in a densely populated area. It’s adjacent to major retailers and offers easy access to the Hartsfield-Jackson Atlanta International Airport and downtown Atlanta.

“Our team is proud to set the market for Tesla in such an impactful way, especially during a time with accelerated interest rate hikes from the Federal Reserve. This impressive CAP Rate of 5.55 percent will pay dividends for Tesla as the brand continues to aggressively expand across the county,” said Steffien.


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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

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