The Hawthorne Hangar Campus, a historically significant industrial flex and R&D property at 3507 Jack Northrop Ave. in Hawthorne, has changed hands in a recently completed investment sale arranged by CBRE. The campus totals 40,553 square feet and is closely tied to the legacy of aviation pioneer Jack Northrop, serving as the original office and airport hangar for the founder of Northrop Corporation. Its blend of industrial and research-oriented space, combined with its historic origin, positions the asset as a specialized property within the industrial landscape.
CBRE orchestrated the disposition on behalf of a seller group comprising Farallon Capital Management, Jofa Capital and Urban Investment Research Corporation. Michael Longo and Melissa Moock of CBRE’s National Partners led the sale assignment, working in concert with CBRE’s Private Capital Partners team, headed by Anthony DeLorenzo and Mark Shaffer. CBRE’s Airport and Aviation Properties Practice Group, led by Katrin Gist, also participated in representing the seller, underscoring the property’s aviation-oriented profile and the need for sector-specific expertise.
Jofa Capital’s managing principal, Jackson Brissette, noted that the partnership acquired the Hawthorne Hangar Campus in 2023 as part of Jofa’s broader “Funky & Fragmented” investment thesis, which targets non-standard or complex assets. Following the acquisition, the ownership group secured a long-term lease with a Fortune 100 tenant, adding a high-credit, long-duration income stream to a historically oriented, specialty industrial asset. The presence of a large, investment-grade tenant is a defining characteristic of the property’s current income profile, but specific lease terms were not disclosed.
Law firm Polsinelli advised the selling partnership in the transaction. According to Polsinelli, Farallon Capital Management, Jofa Capital and Urban Investment Research Corporation acquired the Hawthorne Hangar Campus out of bankruptcy proceedings in 2023 for $13.35 million. The same group has now sold the campus for $32.5 million, reflecting a substantial value increase over a relatively short hold period. Polsinelli’s team on the deal was led by shareholder Jed W. Bonner and included shareholder Emina Kwok and associate Andrew J. Peterson, who handled legal matters related to both the prior acquisition from bankruptcy and the current sale.
The buyer’s identity and business plan were not disclosed, nor were capitalization metrics such as cap rate or yield. However, the combination of a bankruptcy acquisition, repositioning under a long-term lease to a Fortune 100 tenant, and a resale at a significantly higher price highlights the continuing role of opportunistic capital and legal expertise in repositioning and trading complex industrial and aviation-related assets. The transaction underscores ongoing investor interest in well-leased, specialized industrial property with strong tenancy, even when sourced through distressed or special-situation channels.
