Investment sales

Lakewood, Calif. — Faris Lee Investments has arranged the sale of a 97,319-square-foot portion of Lakewood Center, a retail center located in Lakewood. A consortium of multiple owners sold the asset to an undisclosed seller for $37.3 million. Situated on 5 acres within Lakewood Center, the sold portion is leased to tenants including Burlington, 24 Hour Fitness and Bank of America. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller in the deal. This is the second large portion of Lakewood Center that Faris Lee …

Moreno Valley, Calif. — Progressive Real Estate Partners has arranged the $3.1 million sale of a 23,528-square-foot, multi-tenant retail property located at 24300-24320 Sunnymead Blvd. in the Inland Empire city of Moreno Valley. The buyer, which was an Orange County, California-based private investor, plans to make capital improvements and enhance the tenant mix over time. The retail property was 94 percent leased at the time of sale to automotive-related businesses such as Prieto Smog Center, Gina’s Auto Service, Lenny’s Auto Repair and No Limit Sounds & AC.

Fullerton, Calif. — Hanley Investment Group Real Estate Advisors and Summit RE have brokered the sale of Fullerton Court, a two-story retail center adjacent to Fullerton College in Fullerton. A Newport Beach, California-based private partnership sold the property to a Los Angeles-based, private 1031 exchange investor for $12.7 million. Sean Cox and Kevin Fryman of Hanley, in association with Scott Hook of Summit RE, represented the seller, while the buyer was self-represented in the deal. Located at 444 N. Harbor Blvd., Fullerton Court was originally built in 1982 and expanded in …