FARIS LEE BROKERS $25.25 MILLION SALE OF REGIONAL SHOPPING CENTER
HAWTHORNE, CALIF. — Orange County, Calif.-based West 120th – Hawthorne LLC has acquired Hawthorne Exchange, a 60,472-square-foot regional shopping center located at 2831-2909 W. 120th St. in Hawthorne, for $25.25 million. Built in 2006, the property is 97 percent leased to a variety of tenants, including 24 Hour Fitness Magic Johnson Sport, Starbucks Coffee, Sprint/Nextel, The UPS Store, Quiznos, Juice It Up, Countrywide Home Loans and Wescom. Richard Walter and Dennis Vaccaro of Irvine, Calif.-based Faris Lee Investments represented the seller, Orange County-based Ironwood Hawthorne LLC, in the transaction. Douglas Nye of Manco Development represented the buyer, which completed the transaction as part of a 1031 exchange.