Both of the deals were presales by Valencia-based Marketplace Properties LLC, which was represented by Richard Walter and Patrick Kent of Faris Lee. Newport Beach-based Marshall Stuart Properties bought the Wickes Furniture parcel, at 26520 Carl Boyer Dr., and was represented by James Brashier of Coldwell Banker Commercial. TIS Equities XV LLC of Los Angeles bought the Office Depot parcel at 26536 Carl Boyer Dr. and was represented by Dennis Vaccaro of Faris Lee.

The remaining three parcels include Starbucks Coffee, Bank of America, Nextel, Subway, Panda Express and others. Walter notes that this is the first time the firm has combined a presale and breakup strategy within one center.

Walter explains that Faris Lee advised Marketplace Properties, the developer of the center, on a breakup and presale exit strategy before construction began. He says that while a presale involves a complex negotiation process, "In a competitive retail market with rising interest rates and lack of new retail inventory, it's beneficial to both the buyer and the seller."