Business & Tech
Faris Lee Investments Completes $3.7-Million Sale in Aliso Viejo
The multi-tenant retail/office property is 88 percent occupied.

Faris Lee Investments, a leading national real estate investment advisory firm, announced the completion of the $3.7-million sale of The Shops at Pacific Park.
The 15,195-square foot multi-tenant retail and office strip center in Aliso Viejo was built in 1999 and is on 1.18 acres at 22912 Pacific Park Dr. The property, which was sold through receivership, is 88 percent occupied and includes a mix of dining, retail and office tenants.
“Faris Lee’s marketing strategy focused on the strength of the master-planned community of Aliso Viejo and the property’s strong historical occupancy,” said Dennis Vaccaro of Faris Lee Investments. “We generated a total of 10 offers, and despite the lender offering financing, our buyer chose to pay all cash for the asset.”
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The buyer was attracted to the asset because it presented a rare South Orange County ownership opportunity as well as significant upside potential through rental increases and new tenanting options, he said.
Vaccaro and Rich Walter, also from Faris Lee Investments, represented Overland Park KS-based Key Bank and the receiver for the property. Representing the buyer, Feldspar LLC from Newport Beach, was Vaccaro and Matt Mousavi from Faris Lee.