LOS ANGELES, Calif. –– Cushman & Wakefield announced the firm has been hired by The Charles Company to market the sale or long-term ground lease of the Hawthorne Mall site consisting of an approximately 1-million-square-foot shopping center situated on ±25 acres. The vacant property is located along Hawthorne Boulevard between 120th and 128th streets in Hawthorne, California, in the Los Angeles metropolitan area. Originally constructed in the 1970s, Hawthorne Mall was officially shuttered in the 1990s.
The Cushman & Wakefield sales team is being led by Mike Condon Jr. and Erica Finck, McKenna Gaskill and Kylie Rawn. The Los Angeles-based team is listing the property 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 million square feet 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.
“Representing the first time this property has been made widely available for sale in decades, this is a tremendous acquisition opportunity and a golden chance for a buyer to create something fresh, transformative and very special at this site and for the community,” added Condon.
The Hawthorne Mall’s existing improvements consist of a primarily two-story retail shopping structure with 915,025 sf of contiguous space plus a 20,000-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 structured garages alone are of substantial replacement value,” noted Condon.
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 billion 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.
“This is a well-located site that offers immense potential for a variety of progressive uses that should fit well into this growing community. Employers continue to recommit to the area for its abundance of highly skilled labor that want to live near the Silicon Beach coastal communities of Santa Monica, Venice, Playa Vista, Manhattan Beach, and Hermosa Beach, to name a few,” said Senior Director Erica Finck.
