Phoenix — Faris Lee Investments has arranged the $9.8 million sale of a retail property located in Phoenix.
The 55,259-square-foot building is triple-net-leased to Safeway for 20 years. Christopher DePierro of Faris Lee arranged the transaction on behalf of the buyer, a family trust. Marcus & Millichap represented the seller, CF Albert Propco. The property includes 237 parking spaces and was built in 2008.