An airplane hangar located just south of the Hawthorne Municipal Airport is adding to a number of industrial properties to sell in the Greater Los Angeles area in recent months. The 40,000 square foot hangar was acquired by Santa Monica-based Sherwood Real Estate Partners, in partnership with Farallon Capital Management, for $13.35 million, or about $334 per square foot, in a bankruptcy auction, according to an announcement from Brian Novak, who founded Sherwood Real Estate Partners.
The property is located at 3507 Jack Northrop Ave. and is currently occupied by companies like Wolfe Air, which offers cinema aviation services, and aerospace company Ampaire, Inc. Sherwood plans to reposition the hangar for lease to aircraft charter or fleet operators in the area, according to the announcement.
The area is surrounded by a number of aerospace companies, including SpaceX and Launcher. Other industrial users nearby include Amazon and Tesla, among several others.
Founded in 2018, Sherwood is a private real estate investment and development firm with a focus on the Western United States. According to its website, the firm has over $250 million of projects in the pipeline across Southern California.
Farallon Capital Management is a San Francisco-based hedge fund founded in 1986. Currently, the firm has approximately $39 billion worth of assets under management, according to its website.
