ALISO VIEJO, CA-Faris Lee Investments, a national real estate investment advisory firm, has completed the sale of a multi-tenant office and retail strip center in Aliso Viejo. The Shops at Pacific Park, which measures 15,195 square feet at 22912 Pacific Park Drive, was sold through a receivership for $3.7 million.
The center, constructed in 1999, is 88% occupied. Kansas-based Key Bank operated along with the receiver to market the distressed property. Newport Beach-based Feldspar LLC was the purchaser. For the full story, go to Orange County Register .
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