Faris Lee Arranges $39M Deal for Big-Box Duo within Lakewood Center

Faris Lee Investments completed the $38.7-million acquisition of a 155,000-square-foot, two-tenant retail investment featuring The Home Depot and Albertsons at Lakewood Center in Lakewood. Managing principals Don MacLellan and Jeff Conover, senior managing director Scott DeYoung and director Greg Lukosky represented the seller, a consortium of multiple owners, as well as the buyer, a high-net-worth family office.

The property encompasses approximately 154,997 square feet on 14.7 acres within Lakewood Center, a dominant regional retail destination serving a densely populated trade area in Los Angeles County. Both Home Depot and Albertsons occupy their respective parcels under absolute below-market ground leases.

“Transactions of this caliber require a deep understanding of both the real estate and the investment objectives of the buyer,” said MacLellan. “Lakewood Center is an exceptional retail destination, and the opportunity to acquire two dominant national tenants in such a supply-constrained Southern California location is extremely compelling.”

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Faris Lee's MacLellan

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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