6/19/2008

Faris Lee to market Orange County retail center for $58.8M

by Chad King

Aliso Viejo Town Center

Faris Lee Investments is marketing for sale a portion of the Aliso Viejo Town Center in Aliso Viejo, Calif., for $58.8 million.

Dennis Vaccaro is representing the seller, New York-based CLF Aliso Viejo Business Trust, in the offering.

The 181,160 square foot property is being offered for $324.57 per square foot and is comprised of a 144,204 square foot Lowe's, a 25,050 square foot Michaels and a 7,992 square foot Tuesday Morning. It is situated on a 14.5-acre lot at 26501, 26503 and 26505 Aliso Creek Rd. and is being offered with a 5.8 percent capitalization rate.

The retail center was built in 1995 and remodeled in 2004 to accommodate the three tenants.

Address: 26501, 26503 and 26505 Aliso Creek Rd., Aliso Viejo, Calif.

Size: 181,160 square feet

Built: 1995

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Filed Under: Retail

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