PUENTE HILLS MALL

CITY OF INDUSTRY, CA

$170,500,00

1,200,000 SQ FT.

puente-hills-mall

AT A GLANCE

  • Two years after representing Irvine, California-based Passco Cos. LLC in the acquisition of Puente Hills Mall — a transaction that made real estate history as the largest tenants-in-common transaction.

  • Faris Lee sought to maximize its client’s return on investment (ROI) in selling the property.

MARKETING STRATEGY

  • Through aggressive marketing, Faris Lee positioned the 1.2 million-square-foot shopping center as a premier investment opportunity following a two-year stabilization program and the addition of new tenants.

RESULTS

  • Faris Lee secured a $170.1 million sales price

  • Faris Lee achieved a $22 million profit for Passco and its TIC owners

  • To drive value, the property was exposed to both institutional and significant private investors which yielded 10 solid bidders.

  • The sale proved to be one of the most successful TIC investments ever led by Passco.