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Faris Lee Investments buys two-tenant Lakewood Center retail for $38.7M
The 155,000-square-foot property is anchored by The Home Depot and Albertsons, with both tenants under absolute below-market ground leases.
ConnectCRE reports that Faris Lee Investments completed a $38.7 million acquisition of a 155,000-square-foot, two-tenant retail investment at Lakewood Center in Lakewood.
The property spans about 154,997 square feet across 14.7 acres, and it is anchored by The Home Depot and Albertsons.
ConnectCRE also said the seller was represented by managing principals Don MacLellan and Jeff Conover, with senior managing director Scott DeYoung and director Greg Lukosky on the deal.
The outlet added that both Home Depot and Albertsons occupy their respective parcels under absolute below-market ground leases.