CBRE arranged the sale of the Hawthorne Hangar Campus at 3507 Jack Northrop Ave. in Hawthorne, a 40,553-square-foot industrial flex / R&D campus. The property holds significant aviation history as the original office and airport hangar of Jack Northrop, the pioneering aviation entrepreneur and founder of Northrop Corporation.
Michael Longo and Melissa Moock of CBRE’s National Partners, in collaboration with CBRE’s Private Capital Partners, led by Anthony DeLorenzo and Mark Shaffer and CBRE’s Airport and Aviation Properties Practice Group, led by Katrin Gist represented the seller, Farallon Capital Management, Jofa Capital and Urban Investment Research Corporation (URC).
“Our firm acquired the asset in 2023, consistent with our ‘Funky & Fragmented’ investment thesis,” said Jackson Brissette, managing principal at Jofa Capital. “We were pleased to secure a long-term lease with a Fortune 100 tenant.”
According to law firm Polsinelli, which represented the sellers, Farallon, Jofa and URC acquired the property out of bankruptcy for $13.35 million in 2023 and now have sold it for $32.5 million. The Polsinelli team was led by shareholder Jed W. Bonner and included shareholder Emina Kwok and associate Andrew J. Peterson.
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