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Center Pointe sale, salon fundraiser

Posted: April 11, 2008 7:57 p.m.
Updated: June 12, 2008 5:02 a.m.
Center Pointe sale completed
Faris Lee Investments has completed its fourth sale at Centre Pointe Marketplace in Canyon Country as part of a five-part breakup and presale strategy.

The most recent sale totaled $15.3 million and included 20,772 square feet of shop space in four buildings with tenants including Starbucks, Bright Now Dental, Subway, Juice It Up and Panda Express.

Irvine-based Faris Lee Investments President Richard Walter and Director Patrick Kent represented the seller, Valencia-based Marketplace Properties LLC. Dennis Vaccaro of Faris Lee Investments represented the buyer, Los Angeles-based Kaylor Point LLC.

In October 2007, Faris Lee announced the first two transactions at Centre Pointe Marketplace had been completed with a $12.35 million pre-sale of a 41,850-square-foot single-tenant retail property occupied by Wickes Furniture and the $4,922,200 pre-sale of Office Depot, an 18,427-square-foot single-tenant retail property.

In January 2008, Faris Lee, an advisory and brokerage firm specializing in retail real estate, completed the sale of the Bank of America building and a multi-tenant shop building, which totaled approximately 13,000 square feet for a total sale price of $7.2 million.

The fifth and final portion of the property is expected to close this summer.

Rituals Colour Salon fundraiser
Rituals Colour Salon will be hosting a fundraiser on Saturday at 6 p.m. to raise money for the Surfrider Foundation and the SCV Youth Project.

The event will include food, raffles and gifts for attendees and will be held at the salon's location, 26918 The Old Road in Valencia.


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