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Faris Lee Completes Fourth Sale in the $45M Break-Up and Pre-Sale of California Shopping Center

Brand New Centre Pointe Marketplace in Santa Clarita Sold Off in Five Different Pieces
By Sasha M Pardy
April 3, 2008 | 7:30 P.M.

Irvine, CA-based advisory and brokerage firm, Faris Lee Investments, completed the fourth sale of property involved in a $45 million five-part break-up and pre-sale strategy to sell Centre Pointe Marketplace, a 104,000-square-foot community shopping center that recently completed construction in Santa Clarita, California, located at the intersection of Golden Triangle and Golden Valley Roads. This fourth transaction involved the $15.3 million (approximately $737 per square foot) sale of 20,772 square feet of shop space tenanted by Starbucks, Bright Now Dental, Subway, Juice it Up, Panda Express, and more. Faris Lee represented both the seller and buyer in the transaction. President Richard Walter and director Patrick Kent represented the seller, Marketplace Properties, while Dennis Vaccaro represented the buyer, Kaylor Point, LLC. The previous three closed sale transactions of Centre Point were as follows:

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