Faris Lee Brokers $10.6M in Triple Convenience Store Dispositions

Faris Lee Investments has brokered the sale of three convenience stores for a combined $10.6 million, demonstrating the robust demand for net-leased retail assets. Headquartered in Irvine, California, the commercial real estate advisory firm completed the dispositions across three distinct transactions, further highlighting the resilience of the convenience store sector in today's competitive investment market.

Key Details

According to Shopping Center Business, the $10.6 million portfolio sale was broken down into three separate deals. The transactions were spearheaded by a dedicated Faris Lee Investments advisory team consisting of Scott DeYoung, Jeff Conover, Greg Lukosky, and Hunter Steffien.

While the specific names of the buyers and sellers involved in the $10.6 million dispositions were not immediately disclosed, the successful closing of multiple separate transactions indicates a structured approach to marketing these retail assets. The involvement of a four-person advisory team suggests a targeted strategy to manage complex disposition timelines, secure favorable pricing, and navigate the specific due diligence requirements associated with convenience store operations, such as environmental assessments and fuel supply agreements.

Market Context

This $10.6 million transaction cluster highlights a broader CRE trend: the sustained institutional and private equity interest in necessity-based retail. Throughout recent economic cycles, convenience stores with fuel components have proven highly resilient, largely due to their essential nature and inelastic consumer demand.

For CRE professionals, the successful disposition of these three properties points to a liquid investment market for single-tenant net-leased (NNN) assets. Investors are actively seeking properties that offer stable, long-term yields with minimal landlord responsibilities. In inflationary environments, convenience store leases—which often feature rent escalations and percentage rents on high-margin in-store goods—serve as highly effective hedges.

Furthermore, the Southern California submarket, where Faris Lee is based, remains a highly competitive arena for retail acquisitions. Well-located convenience stores on high-traffic corridors offer irreplaceable real estate value. The successful brokering of these three deals indicates that sellers are still achieving strong pricing in the current market, provided the assets are marketed to the right buyer pool. As capital continues to chase reliable income streams, expect transaction velocity in the net-leased convenience store sector to remain brisk through the upcoming quarters.