Faris Lee Investments completed the sale of Plaza Pacifica, a neighborhood retail center located in San Clemente’s affluent South Orange County trade area. The property closed at a price of $21,000,000. The center features a strong mix of daily-needs retailers and has demonstrated long-term historical occupancy with consistent performance.
Don MacLellan, managing principal from Faris Lee Investments, executed a targeted marketing strategy emphasizing the long-term real estate fundamentals of the asset. The campaign focused on attracting 1031 exchange buyers and high-net-worth family offices, while highlighting the center’s flexible shop sizes, strong demand for smaller-format retail and no restrictions on food concepts…