August 12, 2019
Retail advisory and investment sales firm Faris Lee Investments arranged the $10.9 million sale of the Shops Venue, a newly-developed retail center in Lexington, KY.
Built in 2017, the center was formerly the site of a Circuit City and Rafferty’s, before being demolished and transformed into two strip centers connected by a courtyard with outdoor seating, lighting and landscaping. Tenants at the Shops Venue include a daycare facility, fitness center, barbershop and a local coffee shop, as well as regional and national tenants.
Rick Chichester and Joe Chichester of Faris Lee represented the seller, a local private investor and developer, in partnership with local market experts and X Team member Justin Baker of TRIO. The undisclosed buyer secured financing for the acquisition through Wells Fargo.
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