PUENTE HILLS MALL
CITY OF INDUSTRY, CA
1,200,000 SQ FT.
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.
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.
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.