BAKERSFIELD, CA—Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $29.3 sale of Rosedale Village, a 222,000-square-foot community center located at one of the busiest intersections in Bakersfield. Faris Lee effectively differentiated the opportunity with Rosedale Village, one of only two community centers that serve the northwest trade area of Bakersfield, through a high level advisory approach to the investment opportunity, ultimately attracting 12 highly qualified offers.
Donald MacLellan, Rick Chichester, Chris DiPeierro and Tom Chichester of Faris Lee Investments represented both the buyer, JH Real Estate Partners, and seller, Standard Management, in the transaction.
Rosedale Village is located at Rosedale Highway and Calloway Road, one of Bakersfield's busiest intersections with approximately 74,900 vehicles per day. Due to the market's extremely low vacancy rate of 2%, no competing big box opportunities in the trade area, and under-market rents, Rosedale Village presented a unique value-add opportunity within the Southern California basin.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
