Faris Lee Investments recently completed the $170.1 million sale of Puente Hills Mall in the City of Industry, Calif. Glimcher Realty Trust, a Columbus, Ohio-based REIT, purchased the property from PASSCO, an Irvine, Calif.-based real estate investment company. Located on the corner of Colima Road and Azusa Avenue, Puente Hills Mall totals 1.2 million square feet and is a two-story, enclosed regional mall anchored by Sears, Robinsons-May and an AMC 20-screen movie theatre. Originally built between 1974-1975 as a regional shopping center, the mall has become a "Town Center," combining department stores, big-box "power center" retailers, restaurants and entertainment venues. At the time of sale, Puente Hills Mall was more than 93 percent occupied with tenants that include Burlington Coa...
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