4/3/2008

Faris Lee continues break-up of California retail center

by

Centre Pointe Marketplace

Los Angeles-based Kaylor Point, LLC has purchased four buildings within the Centre Pointe Marketplace in Santa Clarita from Marketplace Properties for $15.3 million.

Richard Walter and Patrick Kent of Faris Lee Investments represented both the buyer and the seller in the deal.

The four buildings contain 20,772 square feet and are currently occupied by Starbucks, Bright Now Dental, Subway, Juice It Up and Panda Express. The retail space is located at 26551 Golden Valley Rd. within the 104,701 square foot Centre Pointe Marketplace.

The sale was part of Faris Lee's break-up strategy for the retail center. Walter broke up the center into smaller parcels in order to maximize the asset's buyer pool and increase profitability.

A 35-year veteran of the real estate business, Walter was recently featured in crefeed.com's Five Questions With...


Address: 26551 Golden Valley Rd., Santa Clarita, Calif.

Size: 20,772 square feet

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Filed Under: Retail

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