Faris Lee Investments has advanced its breakup strategy at Lakewood Center in Lakewood with the sale of a major retail parcel for $37.3 million. The latest disposition involves 97,319 square feet of retail space at the regional shopping destination and is anchored by Burlington, 24 HR Fitness and Bank of America. The asset forms part of the broader Lakewood Center complex and is one of several sizable components being sold individually.
This most recent closing marks the second large portion of Lakewood Center that Faris Lee has sold in 2026. Taken together, the two completed transactions total $76 million in sales volume for the year. In the latest deal, Faris Lee Investments acted as the sales representative for the seller, which is described as a consortium of multiple owners.
The transaction team at Faris Lee was led by managing principals Don MacLellan and Jeff Conover, senior managing director Scott DeYoung and director Greg Lukosky. The group guided the marketing and sale process for the multi-tenant retail asset, positioning the offering around its credit tenancy and role within an established shopping center environment.
Prior to the close of escrow, the ownership secured lease extensions with the major anchor tenants at the property. These lease renewals were completed in advance of the sale and are presented as reinforcing the underlying quality of the real estate and its income profile. The presence of Burlington, 24 HR Fitness and Bank of America as long-term anchors contributes to the stability of the rent roll and the center’s positioning in the trade area.
MacLellan noted that transactions of this scale and profile demand a strong grasp of both the real estate fundamentals and the investment objectives of the purchasing party. He described Lakewood Center as an exceptional retail destination within Southern California and emphasized that the ability to acquire three strong national tenants in a supply-constrained location creates a compelling investment scenario for buyers focused on durable cash flow.
The sale underscores continued investor interest in well-leased retail assets backed by national brands, particularly when offered as part of a deliberate breakup strategy at a larger regional center. With lease extensions in place and a consortium of owners successfully executing on their disposition plan, the Lakewood Center transaction illustrates how targeted sales of stabilized pads or components can unlock value within an existing retail property.
