Centre Pointe Marketplace’s latest pre-sales

Three more still in escrow

Faris Lee Investments today announced it has brokered two retail property sales at the Centre Pointe Marketplace in Santa Clarita, Calif., for a total price of approximately $17.3 million. The two sales include the nearly $12.4 million pre-sale of a 41,850-square-foot, single-tenant retail property occupied by Wickes Furniture located at 26520 Carl Boyer Drive, and the $4.9 million pre-sale of Office Depot, an 18,427-square-foot, single-tenant retail property located at 26536 Carl Boyer Drive. Both properties are anchor tenants for the center, which comprises a total of 104,701 square feet. Valencia, Calif.-based Marketplace Properties LLC sold the Wickes facility to Newport Beach-based Marshall Stuart Properties and the Office Depot building to Los Angeles-based TIS Equities XV LLC. The pre-sales of Wickes and Office Depot mark the first parcels in a five-parcel break-up/pre-sale strategy crafted by Faris Lee for the center's developer. The remaining three parcels, which in...