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California  + Orange County  + Retail  | 

Lake Forest Starbucks Sets Record Cap Rate

Before the week is out, don’t forget to register for Connect Orange County. The conference is next week on July 27th at the Balboa Bay Club in Newport Beach.

Faris Lee Investments completed the $2.48-million sale of a newly developed, 1,800-square-foot single-tenant, NNN retail property occupied by Starbucks Coffee with a drive-thru. The property is located at 20451 Alton Parkway, within the Baker Ranch Community of Lake Forest, CA.

The transaction set a cap rate record of 3.48%, which is the lowest cap rate for a Starbucks-occupied property nationally.

Faris Lee’s Patrick Toomey, Thomas Chichester, Matt Brooks and Joseph Chichester represented the seller, Irvine-based Shea Homes. The buyer, a private investor from Vietnam, was represented by Feirstein Law Firm.

Toomey says, “We secured a tremendous amount of interest and received multiple competitive offers the first week it was on the market from a wide range of small- to mid-sized domestic and foreign investors, which ultimately allowed us to close this deal above our asking price.”

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Faris LeeConnect With Faris Lee’s Toomey

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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