MELBOURNE, FL—Faris Lee Investments of Irvine, CA reports it has completed the $10-million pre-sale of a new construction 46,000-square-foot retail building here. The property is now fully occupied by retailers TJ Maxx and HomeGoods.

The 3.88-parcel at 2314 Remi Drive has a new 10-year corporate guaranteed lease with The TJX Companies, Inc. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented an unnamed all-cash buyer who is a private investor based in South Florida. Mousavi and Luther also represented the seller, an unidentified Florida-based developer. The closing cap rate on the asset was 6.2%.

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