Both of the deals were presales by Valencia-based MarketplaceProperties LLC, which was represented by Richard Walter and PatrickKent of Faris Lee. Newport Beach-based Marshall Stuart Propertiesbought the Wickes Furniture parcel, at 26520 Carl Boyer Dr., andwas represented by James Brashier of Coldwell Banker Commercial.TIS Equities XV LLC of Los Angeles bought the Office Depot parcelat 26536 Carl Boyer Dr. and was represented by Dennis Vaccaro ofFaris Lee.

The remaining three parcels include Starbucks Coffee, Bank ofAmerica, Nextel, Subway, Panda Express and others. Walter notesthat this is the first time the firm has combined a presale andbreakup strategy within one center.

Walter explains that Faris Lee advised Marketplace Properties,the developer of the center, on a breakup and presale exit strategybefore construction began. He says that while a presale involves acomplex negotiation process, "In a competitive retail market withrising interest rates and lack of new retail inventory, it'sbeneficial to both the buyer and the seller."