9/17/2008

Faris Lee completes 15-property sale/leaseback for $24M

by
In a sale/leaseback transaction, Del Taco has sold a 15-property portfolio of restaurants in Arizona, California and Nevada for $24 million to Orange County-based Innovative Property Partners, LLC.

Richard Walter and Dennis Vaccaro of Faris Lee Investments brokered the deal on behalf of the buyer while Del Taco was self-represented.

The properties were built between 1998-2002 and were financed through Faris Lee Capital. Del Taco executed a 20-year absolute NNN lease with Innovative Property Partners.

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

Size: 15 restaurants

Built: 1998-2002

---

Filed Under: Retail

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009