Faris Lee Investments closed the sale of Parcels 2 & 3 at Plaza Empresa in Rancho Santa Margarita for $19 million, or $485 per square foot. Senior managing director Scott DeYoung, managing principals Jeff Conover and Shaun Riley and director Greg Lukosky represented the seller in this transaction, which is part of a broader break-up strategy for the Plaza Empresa Commercial Center.
The sale of Parcels 2 & 3 was made to a 1031 exchange buyer from Southern California, who was represented by Nathan Holthouser and Rebecca Canalez of Coastal Commercial. The property is anchored by the United States Post Office and Laguna Beach Brewery.
Faris Lee previously completed the sale of Parcel 1 for $5.2 million to a 1031 exchange buyer. Plaza Empresa is located in an affluent master-planned community with high barriers to entry, ensuring strong tenant demand and consistent rental growth, according to Faris Lee.
