ONTARIO, CA-Faris Lee Investments has completed the $11.75million sale of the Town Center Ontario, a 128,330-square-footretail property that was 85% vacant at the close of escrow. Builtin 2002, the center is situated on approximately 11.59 acres and islocated at 701-769 N. Milliken Ave in Ontario, CA. Faris Lee wasable to secure an international buyer prepared to pay all cash forthe location.
Donald MacLellan, senior managing director, Faris LeeInvestments, and Richard Walter, president, Faris Lee Investments,represented the seller, LNR, based in Miami. The buyer, who paidall cash, was France-based Oxylane Groupe-Decathlon, a manufacturerof sports apparel and equipment.
Oxylane Groupe-Decathlon was represented by Epsteen &Assoc./Samuels Co. With this transaction, the retailer hasconfirmed Ontario as one of its first US retail locations. Thebuyer cited the high traffic location at the confluence of the I-10and I-15 freeways across from Ontario Mills, California’s largestoutlet and value retail shopping destination at 1.7million-square-feet, as important to its decision. Ontario Millsattracts more than 20 million visitors annually, according to FarisLee.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
