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10/17/23
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The Charles Company has listed the Hawthorne Mall property in L.A.’s South Bay area for sale or long-term ground lease. The vacant property consists of a roughly 1 msf shopping center situated on about 25 acres.
The property is located along Hawthorne Blvd between 120th and 128th streets in Hawthorne. Originally constructed in the 1970s, Hawthorne Mall was officially shuttered in the 1990s.
The Hawthorne Mall’s existing improvements consist of a primarily two-story retail shopping structure with 915k sf of contiguous space plus a 20k sf, single-story office building (inside the existing parking garage). Existing improvements also include subterranean parking, two structured parking garages, and surface parking totaling 3,599 striped stalls.
The Cushman & Wakefield sales team is being led by Mike Condon Jr. and Erica Finck, McKenna Gaskill and Kylie Rawn. The property is being offered unpriced. The seller is also willing to provide financing, with additional financing options being advised by Cushman & Wakefield’s Rob Rubano and Brian Share.
“With nearly 1 msf of improvements on more than 25 acres, the Hawthorne Mall represents one of the largest redevelopment opportunities in the Greater Los Angeles market,” said Vice Chair Mike Condon Jr. “While the Downtown Hawthorne Specific Plan outlines a highly flexible mixed-use development concept, the City of Hawthorne has expressed a strong commitment to seeing the property redeveloped in the near term and has dedicated staff available for buyers to discuss potential redevelopment options, including those for housing, commercial office or retail, R&D, light industrial (excluding purely warehouse uses), studio/production, medical, and other uses.”
A major draw for the potential acquisition is the site’s specific location within Hawthorne. In recent years, titans of the tech industry have planted a flag in immediate proximity, including but not limited to SpaceX, Tesla, and Ring. These tenants have driven demand for new restaurants and breweries such as Common Space Brewery, Los Angeles Ale Works, and Eureka! All of which service these high-end tenants.
The property is located at the confluence of the I-405 and I-105 freeways providing incredible access to the entire Greater Los Angeles region. The Los Angeles International Airport (LAX), which is currently undergoing a $7.2 bil expansion and renovation, is also just a short two-mile commute. Moreover, the critical twin Ports of Los Angeles and Long Beach, the largest in the Western Hemisphere, are in very close proximity to the site.
The property is also within two miles of the new SoFi stadium and adjacent Hollywood Park Development, which spanning nearly 300 acres with the stadium as its centerpiece, Hollywood Park is one of the largest urban mixed-use developments currently under construction in the Western U.S.
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