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Thousand Oaks-Irvine-based Faris Lee Investments recently negotiated the $47-million sale of Janss Marketplace, located here, to a Los Angeles-based partnership, Maxim LLC, as a 1031 exchange. Faris Lee was commissioned by seller Janss Marketplace LLC of Los Angeles as the exclusive listing agent for the retail center, located on the northwest corner of Hillcrest Drive and Moorpark Road. Maxim represented itself in the deal. The 450,000-sf Janss Marketplace is 98% occupied, with major tenants including Mervyns, Toys-R- Us, Marshall's, Linens 'n Things, Rite-Aid and Mann's Theatres. The Paris Lee team of Richard J. Walter and Donald J. MacLellan marketed the property. "We wanted to ensure that the potential buyer was not only attracted to the property due to its great location, but was also willing to meet additional requirements to secure the acceptance of an offer," says MacLellan, managing director, Faris Lee Investments. ''As a result, Maxim contractually committed to the acquisition and affirmed its intent with a significant non-refundable deposit to safeguard the purchase." In return, Faris Lee was able to complete the deal in 45 days to meet the buyers strict 1031-exchange deadline.