Faris Lee Investments Facilitates $7.6M Sale Of Solita Restaurant In Anaheim

Faris Lee Investments completed the $7.6 million sale of Solita Restaurant in Anaheim's Platinum Triangle to a 1031 investor at $1,116 per square foot. The property, located at 2438 East Katella Avenue, is a retail asset with a total square footage of 6,828. The sale price was $7,625,000, with a price per square foot of $1,117. The transaction took place on November 30, 2023, in the Anaheim market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,625,000
• Address: 2438 East Katella Avenue
• Market: Anaheim
• Square Footage: 6,828
• Price per Square Foot: $1,117

Burnham-Ward Properties, represented by Scott Burnham, acted as the seller in this transaction. The buyer, a 1031 investor, was strategically targeted by Faris Lee Investments, whose brokers, Greg Lukosky and Jeff Conover, facilitated the deal. Overcoming challenges in the debt market, the transaction was successfully completed, bringing together the buyer and seller for this retail property sale.