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Lakewood, Calif. — Faris Lee Investments has brokered the $38.7 million sale of two retail properties located within Lakewood Center, a 2 million-square-foot shopping center situated roughly 23 miles southeast of Los Angeles. The buildings, which total nearly 155,000 square feet, are occupied by Albertsons and The Home Depot. Both tenants have operated at the center for more than 30 years.
Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, a consortium of multiple owners, and the buyer, a high net-worth family office, in the transaction.