Faris Lee Completes $11M Sale of Hawthorne BofA Building

Irvine, CA-based Faris Lee Investments has completed the $11 million sale of a single tenant, absolute triple-net leased Bank of America building in Hawthorne, CA. The City of Hawthorne purchased the asset from an Orange County-based private office group.

“This investment presented a rare opportunity for the city to purchase a large parcel fronting City Hall for future use. The potential FMV rent enables the City to achieve above-market returns until they decide what to do with the property after the lease expires with Bank of America,” said Faris Lee’s Jeff Conover who represented the seller along with the firm’s Shaun Riley and Scott DeYoung. Newmark’s Chris Beck represented the buyer.

Bank of America is located at 12547 Hawthorne Blvd, adjacent to City Hall and near large employers including the SpaceX and Tesla design center. The branch has been at the location for over 70 years.

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Faris Lee's Jeff ConoverNewmark's Chris Beck

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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