LAKEWOOD, Calif. — September 2026 — Faris Lee Investments, a leading national retail investment sales firm, announced the successful closing of the $38.7 million acquisition of a premier, 155,000-square-foot, two-tenant retail investment featuring The Home Depot and Albertsons at Lakewood Center in Lakewood, California. Faris Lee Investments represented the seller, a consortium of multiple owners as well as the buyer who is a high net worth family office.
The acquisition brings together two nationally recognized retail brands in one of Southern California’s most established and heavily trafficked retail destinations. The property encompasses approximately 154,997 square feet on 14.7 acres and is positioned within Lakewood Center, a dominant regional retail destination serving a densely populated trade area in Los Angeles County.
The transaction is particularly notable given the quality and scarcity of infill Southern California real estate. Both Home Depot and Albertsons occupy their respective parcels under absolute below market ground leases. The tenants have also maintained a long-term presence at the center, with both operating at the location for more than 30 years.
The transaction was led by Don MacLellan, Managing Principal; Jeff Conover, Managing Principal, Scott DeYoung, Senior Managing Director, and Greg Lukosky, Director.
“Transactions of this caliber require a deep understanding of both the real estate and the investment objectives of the buyer,” said Don 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.
A TROPHY SOUTHERN CALIFORNIA RETAIL ASSET
Lakewood Center represents one of the most dominant retail destinations in the Los Angeles region.The center attracts more than 22 million visitors annually and ranks as the #1 consumer destination in California and #2 nationally based on Placer.ai visitation data. The center is also home to major national retailers including Costco, Target, Burlington, Best Buy and Macy’s, complemented by a broad collection of restaurants and outparcel retailers.
Lakewood Center occupies a full city block at four major signalized intersections, with Del Amo Boulevard, Lakewood Boulevard, Clark Avenue and Candlewood Street generating combined traffic counts of approximately 112,000 vehicles per day.
About Faris Lee Investments
Faris Lee is a leading national retail investment brokerage firm with 30 years of experience in maximizing value for retail property owners. Guided by core principles of integrity, high level of real estate knowledge , and accountability, the firm is dedicated to delivering exceptional results while maintaining a strong commitment to ethical practices, collaboration, and in-depth real estate knowledge. Faris Lee’s process begins with a deep understanding of each property, followed by the application of market analytics using real-time financial, real estate, and retail data to inform strategic decisions.
By combining cutting-edge research, precise marketing strategies, and a collaborative team approach, Faris Lee maximizes sale proceeds, ensuring clients achieve exceptional results well above the competition. Their team of seasoned professionals brings extensive real estate expertise and a client-focused mindset, ensuring long-term success through creative solutions and unwavering focus for the client.
For more information, visit FarisLee.com.